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Fitch Downgrades Greece

12/08/09 by Daily Forex Snapshots  
Filed under Forex & Futures

   

G10 Advancers and Decliners vs USD JPY 1.19 CHF -0.49 EUR -0.58 GBP -0.91

Risk appetite was dealt another blow today with the news that ratings agency Fitch downgraded Greece to a BBB+ rating and changed its outlook to negative. The erosion of risk sentiment (still fragile from lingering Dubai concerns and the aggressive unwind post-payrolls) dragged EURUSD back down through yesterday’s 1.4757 lows to touch 1.4727. Gold followed the move lower through its own intraday…

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