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Wednesday, 6 July 2011

Currency Exchange news


Here you have some news about the currency exchange

Euro:

The euro finally took a hit and dropped slightly against both the pound and dollar after Moody’s Investors Ser­vice cut the ratings of Portugal's long term government bond rating to Ba2 or junk, with a negative outlook. The euro fell below $1.44 on the dollar and traded on the 0.90 handle against sterling. The credit rating agency sin­gled out the insistence of European leaders on private bondholding taking part in the Greek bail-out as a reason for the downgrade, and also noted Portugal was likely to need a second bail-out before it could raise money in the capital markets.

Dollar:

The dollar weakened against most of its major counterparts on speculation the US jobless rate will remain ele­vated, delaying any tightening in monetary policy by the Federal Reserve. The greenback fell for the seventh time in eight days against the euro as economists said figures this week will show US companies added 100k workers in June, less than 200k cited by some analysts as the minimum needed to bring down unemployment. The nonfarm figures are due out on Friday. We have seen a small improvement in the dollar versus the euro in the UK early morning trading session after Moody’s cut Portugal’s debt levels to junk status.
GBP/USD 1.6012
GPB/EUR 1.1141
EUR/USD 1.4364

Source : Rook International

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