Euro Falls Against the US Dollar

Euro Falls Against the US Dollar
February 14, 2012 Matthew Mocorro

The credit agency, Moody’s, has decided to cut the credit ratings of six countries within the Eurozone: Italy, Spain, Portugal, Malta, Slovakia and Slovenia. In addition, it also warned of a possible downgrade for three countries with AAA credit ratings: Austria, France and the United Kingdom. The cuts and downgrades stem from how vulnerable these countries are to being effected by the Eurozone credit crisis.

Moody’s downgrade and warning announcement caused the Euro to slip against the US Dollar. In less than 10 hours, the Euro fell 136 PIPs. Take a look at the chart below:

Euro Falls 136 PIPs

News events such as credit rating downgrades can create momentum in the Forex market. Educated Forex traders are able to know what to look forhow to prepare and how to react to these market movements.

Learn how MTI’s Ultimate Traders Package on Demand could prepare you for such fundamental announcements. Attend a free webinar to learn more. Reserve your spot nowby completing the form below.

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