Euro under ever- increasing pressure

andres del risco

Concerns over the Eurozone debt crisis continue to weigh heavily on the Euro after a series of downgrades by ratings agencies. Moody's downgraded Hungary to non-investment grade Ba1, from Baa3, with a negative outlook. Yesterday Fitch had downgraded Portugal’s credit rating to junk status, citing “large fiscal imbalances, high indebtedness across all sectors and an adverse macroeconomic outlook.” Consequently, Sterling has shot up against the euro this morning.

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Euro under ever- increasing pressure

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