Spain forecasts 2011 deficit at 8% versus 6% target Spain announces € 8.9B in spending cuts EUR net short position falls to record in CFTC Commitments of Traders report IMF says USD share of global FX reserves +7.5% y/y in Q3; EUR loses ground Milwaukee PMI Dec 57.77 vs 56.7 prior US Congress delays vote on debt ceiling, citing scheduling EUR/JPY hits fresh 10-year low S&P 500 falls 5.5 points, or 0.4% — flat on the year AUD and JPY lead on the day; EUR and USD lag The final session of the year was more volatile than expected with good-sized ranges and moves. EUR/USD was the laggard at the start of the session at ... (full story)