Euro Rises This Week as ECB May Increase Interest Rates
New Zealand Dollar Reaches 18-Year Low vs. Australian Currency
Euro Fluctuates After Moody’s Cuts Greece’s Rating
The euro rebounded after it previously declined today versus the US dollar as Moody’s Investors Service downgraded Greece’s government debt, refueling the concern about Europe’s sovereign debt.
Moody’s downgraded Greece’s debt from Ba1 to B1 and put the outlook to negative. The downgrade has brought the theme of the European debt again to the attention of market participants, causing the speculation that the European leaders will argue among themselves about the best way to tackle the debt problem.
EUR/USD traded at 1.4010 as of 9:35 GMT today after it opened at 1.3994 and dropped to the intraday low of 1.3955.
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CategoriesEarlier News About the Euro:
- Euro Rises This Week as ECB May Increase Interest Rates (2011-03-05)
- Euro Rallies as ECB May Raise Interest Rates Next Month (2011-03-03)
- Inflation Pressure Makes Euro Stronger (2011-03-01)
- Euro Gains on Anticipation of Rates Increase by ECB (2011-02-23)
- Euro Rises as ECB Official Speaks in Favor of Interest Rates Hike (2011-02-18)