Tags: Dollar

Euro Falls to 13 Month Low Against Dollar

Wednesday, 05 May 2010 08:58 AM

 

The euro is sinking to a 13-month low below $1.29 after credit ratings agency Moody's Investor Services said it may downgrade Portugal's debt.

Standard & Poor's last week downgraded Portugal's credit rating, sending borrowing costs soaring.

Moody's move underscores fears that a euro110 billion bailout for Greece, now worth about $142 billion, may not be enough to halt the debt crisis in Europe.

The euro sank as low as $1.2883 in morning trading in New York, its lowest point since April 2009. The euro was worth $1.3004 in late New York trading Tuesday.

© Copyright 2015 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

1Like our page
2Share
 

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

 
NEWSMAX.COM
America's News Page
©  Newsmax Media, Inc.
All Rights Reserved