S&P Puts Eurozone Members On Negative Watch, RBA Cuts Rates

Source: Advanced Currency Markets |

G10 Advancers and Decliners vs USD
CHF 0.82
JPY -0.02
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EUR -0.74
There was a marked drop in risk appetite overnight as Standard & Poor’s announced late yesterday that they were putting 15 Eurozone countries on negative credit watch; a move that not only surprised because of its timing, but also because initial speculation had only considered that the triple-A rated sovereigns would be put under scrutiny. This action from the ratings agency adds a further…

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