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Euro falls below $1.26 on bets Europe’s bank turmoil to worsen

Posted on 18 February 2009

From Bloomberg: The euro fell below $1.26 for the first time since early December after Moody’s Investors Service said it may cut the ratings of several banks with units in eastern Europe, adding to concern financial turmoil will deepen.

The dollar and yen gained against most of their major counterparts as stock markets fell, making the U.S. and Japanese currencies more attractive as havens. Poland’s zloty traded near a record low versus the euro as Deputy Prime Minister Grzegorz Schetyna said the weakening of the currency is dangerous. …. Full Article: Source


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