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Euro/USD: Rating agencies are pulling Euro down
The pair EUR/USD is traded downward at the Forex currency market on Monday morning amid aggravation of the Greek debt crisis.
By 9.00 Moscow time the Euro is at 1.4075 against closing level of 1.4159 on Friday.
Last Friday, rating agency Fitch downgraded Greece to the level of B+ which triggered closure of the Euro position and has led investors to safe currencies, once again, due to the fears of aggravation of the debt problems both in Greece and in the entire Eurozone
In addition, at the weekend, S&P revised the rating of Italy to A+, forecast is “negative” against the previous “stable”, as the agency is concerned that outlooks of the economic growth in the country are poor and capability of authorities to reduce public budget deficit is very low.
Therefore, the Euro is again in the forefront for the investors and sentiments of the players are negative.
Most likely the pair EUR/USD will not go beyond the range of1.4010-1.4180 at the trading session on Monday.