Euro Hits New 16-Month Low Against Dollar

By Paul Riegler on 13 January 2012
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The euro sunk to a new 16-month low against the U.S. dollar in trading on Friday.euro austria

The European Union’s common currency, used by 17 nations, dropped as low as $1.2647 and traded recently at $1.2657.  It had closed at $1.2814 on Thursday.

The drop occurred amidst credit rating downgrades of multiple countries in the EU.  On Friday, Standard & Poor’s lowered France’s rating to AA+ from AAA+.  Germany’s AAA+ rating will remain unchanged, as will Greece’s CC rating.

The 2011 highs for the euro were ¥123.33 and $1.4940.

Accura News

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