Arab Today, arab today euro steady after portugal rating slashed
Last Updated : GMT 14:23:27
Arab Today, arab today
Arab Today, arab today

Euro steady after Portugal rating slashed

Arab Today, arab today

Arab Today, arab today Euro steady after Portugal rating slashed

Tokyo - AFP

The euro was steady against the dollar in Asian trade on Wednesday after sliding following a Moody\'s downgrade of Portugal to junk status, tempering optimism over progress on eurozone debt. The euro fetched $1.4443 from $1.4418 late in New York on Tuesday, compared with levels above $1.45 Monday. It was at 116.91 yen, down from 117.32 Tuesday. Against the Japanese currency, the dollar bought 80.82 yen from 81.10 yen. The single currency had fallen sharply overnight in the minutes after Moody\'s Investors Service slashed Portugal\'s credit rating by four notches to Ba2 from Baa1 and warned that it could be lowered further. The ratings agency said its main concern was that Lisbon would require a second bailout, just as Greece now does, and that private sector creditor banks would have to take some of the pain. It warned European banks could face losses if they agree to roll over their Greek debt to give the embattled nation more time to organise its finances, as is being proposed by European officials. Ratings agency moves, including earlier warnings from Standard & Poor\'s that current plans for a second Greek bailout involve an effective default and a Moody\'s warning on local government debt in China, conspired to hit risk sensitive currencies such as the euro, dealers said. \"It\'s apparent there\'s still a lot of water to pass under the bridge in Europe and the water is murky at that,\" Christopher Gore, currency analyst at GoMarkets in Melbourne, told Dow Jones Newswires. A one euro coin sits on top of a single US dollar bill. The euro remained steady against the greenback in Asian trade on Wednesday after sliding following a Moody\'s downgrade of Portugal to junk status, tempering optimism over progress on eurozone debt. After Greece passed tough austerity measures, eurozone finance ministers authorised the next 12 billion euros ($17 billion) tranche of last year\'s European Union-International Monetary Fund bailout over the weekend. The move had eased concerns about a potential cascade of problems tearing through the eurozone and the wider global economy, but positive sentiment has since faded. Attention was now shifting to the European Central Bank\'s rate-setting meeting Thursday and key US jobs data Friday. \"The lack of upside impetus in the euro reflects the fact that a hike by the (ECB) is fully priced in, and markets are wary of chasing the euro in case we see a similar \'buy the rumour, sell the fact\' reaction which characterised last month\'s meeting,\" said Credit Agricole in a client note. \"There will not be a great shift in sentiment ahead the ECB meeting tomorrow and US non-farm payroll data release on Friday,\" Credit Agricole said.

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today euro steady after portugal rating slashed Arab Today, arab today euro steady after portugal rating slashed

 



Arab Today, arab today
Arab Today, arab today Saudis await visitors but will they come?

GMT 11:54 2017 Thursday ,23 February

Saudis await visitors but will they come?
Arab Today, arab today Sarah Belamesh designs antiques of "ceramic"

GMT 19:45 2017 Monday ,20 February

Sarah Belamesh designs antiques of "ceramic"
Arab Today, arab today Blind sheikh buried in Egypt

GMT 06:32 2017 Thursday ,23 February

Blind sheikh buried in Egypt
Arab Today, arab today Media host Mona Iraqi stresses her show's success

GMT 15:32 2017 Wednesday ,22 February

Media host Mona Iraqi stresses her show's success

GMT 16:32 2017 Wednesday ,22 February

US Treasury chief tells IMF to monitor currencies

GMT 16:08 2017 Wednesday ,22 February

Qatari banks merger to rebalance financial sector

GMT 05:57 2017 Wednesday ,22 February

Britain risks clash with EU over RBS bailout

GMT 05:26 2017 Wednesday ,22 February

Singapore carbon tax would hit refiners, help renewables

GMT 05:18 2017 Wednesday ,22 February

Chinese PM: US should avoid ‘trade war,’

GMT 20:59 2017 Tuesday ,21 February

Economy good, but homes in German cities overpriced

GMT 05:29 2017 Tuesday ,21 February

Sovereign funds pulled $38bn from markets in 2016
View News in Arabic - Business: نفط وبتروكيماويات
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today To hold social dialogue over secondary school

GMT 07:43 2017 Wednesday ,22 February

To hold social dialogue over secondary school
Arab Today, arab today UK appoints 1st Scotland Yard chief in 188 years

GMT 05:14 2017 Thursday ,23 February

UK appoints 1st Scotland Yard chief in 188 years
Arab Today, arab today Ex-yoga missionary unleashes rage

GMT 12:16 2017 Thursday ,23 February

Ex-yoga missionary unleashes rage
Arab Today, arab today Pluto's unruly moons

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons
Arab Today, arab today Tesla back into red but revenue grows

GMT 07:27 2017 Thursday ,23 February

Tesla back into red but revenue grows
Arab Today, arab today Nissan enhances sales in most markets

GMT 14:08 2017 Monday ,20 February

Nissan enhances sales in most markets
Arab Today, arab today Salma Rashid happy for 'A Whisper of Love'

GMT 05:19 2017 Tuesday ,21 February

Salma Rashid happy for 'A Whisper of Love'
Arab Today, arab today Milan laughs while Rome cries

GMT 10:28 2017 Wednesday ,22 February

Milan laughs while Rome cries

GMT 06:41 2017 Monday ,20 February

Janat pleased for issuing 'Good Morning'

GMT 12:35 2017 Tuesday ,21 February

63-Year-Old Woman Delivers Baby

GMT 14:29 2017 Monday ,20 February

Prepares to present her new collection

GMT 15:53 2017 Tuesday ,21 February

Small ponds have outsized impact

GMT 23:29 2017 Thursday ,16 February

Home built on sand castles-style costs $8m

GMT 07:51 2017 Wednesday ,22 February

Mom's immune system accepts babies

GMT 17:46 2017 Saturday ,18 February

Tourist guide reveals methods of tourist attractions

GMT 13:12 2015 Saturday ,09 May

Sheikh Sultan opens Sharjah Centre

GMT 19:10 2017 Friday ,17 February

Hats, scarves add beauty to women
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday