Euro Is Near 1-Week Low Amid Debt Concerns, Ireland Downgrade
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The euro traded near the lowest in more than a week against the dollar as concerns Europe’s debt crisis will linger damped demand for the region’s assets.
Europe’s currency headed for a weekly loss against 10 of its 16 major counterparts after Fitch Ratings downgraded Ireland. European Central Bank President Jean-Claude Trichet and ECB Governing Council member Miguel Angel Fernandez Ordonez will speak to reporters in Madrid today. The dollar held yesterday’s loss against the yen as benchmark Treasury yields dropped, reducing the allure of U.S. assets.