EURUSD Resilience To Credit Downgrades Could Herald Correction Higher

Source: Advanced Currency Markets |

G10 Advancers and Decliners vs USD
JPY 0.06
GBP -0.31
CHF -0.44
EUR -0.48
EURUSD has started the week at new highs, reaching a peak of 1.3234 at the Asian open before paring back below 1.3150. This buoyancy comes in spite of fresh sovereign credit downgrades on Friday evening where Fitch lowered the rating on five European countries by at least one notch. The most notable targets on this occasion were Italy and Spain which were reclassified two notches lower, and…

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