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Day: March 25, 2010
March 252010
Greece, Portugal, Trichet, All Against the Euro
The euro continued to drop today versus its main trading partners currencies and is going to post another weekly decline as concerns regarding the region’s growing budget deficit are still far from a solution, raising aversion towards assets in the region. After Fitch Ratings downgraded Portugal’s credit rating and concerns in Greece continued to haunt European markets, the euro declined to the lowest level in 10 months versus the U.S. dollar, losing […]
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March 252010
Euro Bleeds with Portugal Downgrade
The euro declined versus all of the 16 main traded currencies this Wednesday as Portugal started to raise concerns strongly, after an important financial agency cut its credit rating for the first time, showing that hard times are still to come for the Eurozone. Fitch Ratings lowered Portugal’s credit rating one step to AA- with a negative outlook, considering more credit rate cuts to come during this year or the next, […]
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