Euro Extends Losses After Downgrades of EU Nations Credit Ratings
The euro extended its losses today on the concerns that the some nations of the European Union would have problems with raising funds after the credit agencies downgraded their credit ratings.
The Moody’s Investors Service downgraded Ireland’s credit rating by five levels to Baa1 on December 17th and warned that it may downgrade the rating of Greece, while the Standard & Poor’s put Belgium on the negative. The European Central Bank voiced the concerns about the measure taken by Ireland to stabilize its banking system.
EUR/USD traded today at 1.3148 as of 10:19 GMT after opening at 1.3165. EUR/JPY traded at about 110.20, falling from the opening price of 110.60.
If you have any questions, comments or opinions regarding the Euro, feel free to post them using the commentary form below.
Tags
Credit Rating, EUR/JPY, EUR/USD, European Central Bank, European Union, Ireland, Moody's, Standard & Poor's
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Earlier News About the Euro:
- Euro's Gains Turned to Losses in Course of This Week (2010-12-18)
- German Business Climate Improves, Euro Advances (2010-12-17)
- Euro Falls as Moody's May Downgrade Spain's Credit Rating (2010-12-15)
- Euro Fluctuates on Disagreement How to End Europe's Crisis (2010-12-10)
- Downgrade of Ireland's Credit Rating Makes Euro Weaker (2010-12-10)
2 Comments
What is your comment on EUR/USD, do you think EUR rising up against USD near future..could please give me the price range of EUR/USD this month until next January 2011.
Somewhere between 1.3631 and 1.2319.