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- American focus: the euro fell 16- month low versus the dollar
American focus: the euro fell 16- month low versus the dollar
The euro dropped amid speculation Standard & Poor’s may downgrade the credit ratings of several countries in the 17-nation currency region today.
The shared currency amid reports talks between Greece and its creditor banks were put on hold. The Dollar Index climbed as U.S. stocks fell after JPMorgan Chase & Co. said profit declined.
The dollar climbed as risk appetite faded and investors sought refuge.
Germany, Europe’s biggest economy, will retain its AAA rating in a review of euro-area countries’ credit grades by S&P, a European government official said.
France is among several euro-area countries facing downgrades by S&P in the review, which is due 20:0 GMT, the official said on condition of anonymity because the announcement has yet to be made. Austria will probably lose its AAA rating on concern about bad debts at the country’s banks, according to a person familiar with the matter.
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