The euro rebounded after it previously declined today versus the US dollar as Moodyâs Investors Service downgraded Greece’s government debt, refueling the concern about Europe’s sovereign debt.
Moodyâs downgraded Greeceâs 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.
If you have any questions, comments or opinions regarding the Euro,
feel free to post them using the commentary form below.
