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EUR/USD: Euro goes down again due to the increasing risks
The pair EUR/USD is traded downward at the Forex currency market on Wednesday morning, because Moody's has downgraded Japanese ranking.
By 9.30 MSK the Euro is at 1.4404 against yesterday’s closing level of 1.4441.
It became known today that rating agency Moody's has downgraded credit rating of Japan to AA3 due to the high budget deficit which is close to 200% of the country’s GDP. The forecast remained ‘stable.”
Yesterday, the court of Manhattan acquitted former head of IMF, Domonique Staruss-Khan of all charges and allowed him to collect his passport to leave the country. Thus, political component is obvious n the case of the monetary politician.
The day is going to be uneventful in terms of macro-statistics; therefore external background will remain the main activator of the movement.
Most likely the pair EUR/USD will not go beyond the range of 1.4350-1.4420 at the trading session on Wednesday.