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American focus: euro fell
The euro fall as the European ratings story from the FT is circulated and receives attention, FT report asserting that S&P has warned Germany, France, Netherlands, Austria, Finland and Luxembourg that their ratings are at risk because of the EU crisis. Earlier the euro advanced after France and Germany said they want a rewrite of the European Union’s governing treaties to tighten economic cooperation in the region. The 17-nation currency was supported as Italy’s cabinet approved a deficit-cut plan, easing concern the region’s debt crisis in worsening.
Sterling strengthened as an index of U.K. services unexpectedly gained and U.S. services expanded in November at the slowest pace since January 2010.
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