Euro Tumbles as France Cut to Aa1
Tweet
Share
E-mail
The value of the Euro declined late Monday after France's government bond rating was cut to Aa1 from Aaa by ratings agency Moody's. The spot price of EUR/USD and euro crosses declined following the announcement.
The downgrade cited structural challenges to France's long-term outlook and fiscal uncertainty due to subdued domestic and external demand. Moody’s also said France's ability to absorb euro area shocks had diminished.
The downgrade cited structural challenges to France's long-term outlook and fiscal uncertainty due to subdued domestic and external demand. Moody’s also said France's ability to absorb euro area shocks had diminished.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Bessent: Many People Believe Chinese Yuan Is Undervalued
- US Banks Said To Be Asked By NY Fed To Check EUR/JPY Rate - Bloomberg
- US Treasury Has Informed Banks That It May Intervene In Yen Market On Friday - Source Familiar With The Matter - Reuters
Create E-mail Alert Related Categories
ForexSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
