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NOV 08, 2013 - Investopedia

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Euro rebounds from downgrade-induced lowd

FXstreet.com (London) - The euro dipped to a low of USD1.3389 following the S&P announcement of French ratings cut, but has followed form with a post-ratings cut bounce to USD1.3427, up 0.08 percent.The announcement followed downwards momentum for the euro after the European Central Bank wrong footed many by announcing a 25 basis point cut of the main refinancing rate to a record low 0.5 percent.The decision by the ECB drove the euro down (perhaps intentionally), though Mario Draghi liberally borrowed from Bank of Japan governor Haruhiko Kuroda’s Guide to Central Bank Rate Announcements by ... Read More

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