Euro falls versus U.S. dollar after Moody's cuts France credit rating

NEW YORK Tue Nov 20, 2012 4:12am IST

A structure of the Euro currency sign is seen through the window on a rainy evening in Frankfurt July 13, 2012. REUTERS/Alex Domanski

A structure of the Euro currency sign is seen through the window on a rainy evening in Frankfurt July 13, 2012.

Credit: Reuters/Alex Domanski

NEW YORK (Reuters) - The euro slid lower against the U.S. dollar late on Monday following the loss of a coveted Aaa credit rating from Moody's Investors Service.

The euro slipped 0.27 percent to $1.2777 against the greenback on the news. Prior to the rating action the euro was trading near a two-week high on the U.S. currency.

Moody's cut France to Aa1 and maintained a negative outlook on the credit, citing the country's uncertain fiscal outlook as a result of "deteriorating economic prospects."

(Reporting by Daniel Bases; Editing by Phil Berlowitz)

Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.

  • Most Popular
  • Most Shared

Drug Pricing

REUTERS SHOWCASE

Modi Speaks

Modi Speaks

PM Modi says al Qaeda will fail in India - CNN.  Full Article 

Alibaba Listing

Alibaba Listing

Alibaba surges on massive demand in trading debut  Full Article 

Importing Rice

Importing Rice

Top rice exporter India importing over 100,000 T on temporary supply squeeze.  Full Article 

GSK Fined

GSK Fined

China hands drugmaker GSK record $489 mln fine, sentences executives.  Full Article 

HMT in Demand

HMT in Demand

Fans rush to HMT as watchmaker marks time.  Full Article 

Apple Not Cool?

Apple Not Cool?

Some consumers say Apple is losing its "cool" factor  Full Article 

Reuters India Mobile

Reuters India Mobile

Get the latest news on the go. Visit Reuters India on your mobile device.  Full Coverage