The euro extended its losses today on the concerns that the some nations of the European Union would have problems with raising funds after the credit agencies downgraded their credit ratings.
The Moodyâs Investors Service downgraded Irelandâs credit rating by five levels to Baa1 on December 17th and warned that it may downgrade the rating of Greece, while the Standard & Poorâs put Belgium on the negative. The European Central Bank voiced the concerns about the measure taken by Ireland to stabilize its banking system.
EUR/USD traded today at 1.3148 as of 10:19 GMT after opening at 1.3165. EUR/JPY traded at about 110.20, falling from the opening price of 110.60.
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