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
- Exit polls see gains for BJP in state elections
- WTO overcomes last minute hitch to reach its first global trade deal
- UPDATE 2-Jay Z leads with 9 Grammy nominations, but newcomers vie for top honors
- Australia celebrates first same-sex marriages ahead of court challenge
- Chinese mourn Mandela; ask awkward questions about own dissidents
The World Trade Organization reached its first ever trade reform deal on Saturday to the roar of approval from nearly 160 ministers who had gathered on the Indonesian island of Bali to decide on the make-or-break agreement that could add $1 trillion to the global economy. Full Article