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The Euro Tested Bottom Warnings By Credit Agencies

ByBulbrokers
Published 12/13/2011, 05:01 AM
Updated 04/25/2018, 04:40 AM
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The credit agency Moody's warning all euro area country with download rating. This led euro to $ 1.3163, that’s lowest level for last 10 weeks

Credit agency Fitch also affected the market reduced its forecast for 2012.

Contributed to the decline and worsening expectations for the Greek deficit announced by Finance Minister of the country. Increased concerns about the financial sector, after it became clear that Commerzbank negotiating with the state for help. Not least was the impact of the closure of speculative positions opened last week before the summit in Brussels.

At the end of the day the euro closed at $ 1.3186 levels, reported as the single currency drop against all major currencies. British pound fell to $ 1.5581. The Japanese currency closed at 77.89 yen per dollar and Swiss franc reached 0.9385 francs levels of the dollar, which level is 9 month high.

Gold fell sharply by over 3% to $ 1,655, and the reason is the reduced inflation expectations against the backdrop of stagnation in demand. Oil also fell heavily to $ 98.10 a barrel.

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