Euro falls versus U.S. dollar after Moody's cuts France credit rating
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)
- Tweet this
- Share this
- Digg this
Maruti Suzuki India, India's biggest carmaker, reported a 21 percent rise in first-quarter net profit, beating estimates, as early signs of an economic revival boosted sales. Full Article