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Forex: Monday's review
Greece’s credit rating was cut to B from BB- by S&P, which said further reductions are possible, with private investors at risk if maturities are extended on the nation’s emergency-aid package. Another rating cut would make Greece the lowest-rated country in Europe as today’s move left it even with Belarus after the fourth reduction by S&P since April 2010.
The 17-nation currency rose earlier as a report showed exports in Germany, Europe’s largest economy, jumped in March, bolstering the case for higher interest rates in the euro region.
At 1400GMT US Wholesale Inventories data is due.
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