News :- Euro slips to over 2-wk low on Moody's review warning

Euro slips to over 2-wk low on Moody's review warning

Euro fell to over two-week low in early morning European trades after Moody's Investors service reiterated its plan to review the ratings of European nations.The unified currency also slipped as weak German WPI data for the month of November and higher yields set at Italian bond auction heightened fears of contagion spreading to stronger euro-zone nations.

 

Uncertainty over euro-zone crisis persist translating into heightened risk-aversion and also as investors are eyeing the FOMC policy meeting that could provide important cues for further investment position.Federal Open Market Committee (FOMC) will communicate its decision on the state of the economy and indicate future policy stance after a meeting on Dec 13, though the policy is likely to continue with its existing stance.

 

USD/INR near record as euro slides, RBI not intervening

 

Dollar/rupee soared to a three-week high Monday on euro slide as investors fretted about euro-zone leaders' failure in arriving at a convincing solution for the region's deep-rooted fiscal crisis at a just-concluded summit, pushing region's stocks lower in early trades. 

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