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Moody's Downgrades Portugal, Euro Heads for 1.2500

posted by Avatar fx360 683 days ago in EUR, Daily

Euro dropped below the 1.2550 level after Moody’s downgraded Portugal two more notches to A1 from AA2 but kept the outlook stable. Moody’s noted that Portugal’s fiscal position will deteriorate over the medium term and the rating agency was concerned that the country’s growth prospects could suffer if structural reforms do not work as planned.
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