Euro depreciates close to 11-month low

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Source: Bloomberg
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17-nation currency traded 0.2% from 11 month record low against US dollar on Wednesday's Tokyo trade ahead of today's European bond auction. Drop in euro shows investor belief the turmoil is far from being solved, suggest analysts. Euro tumbled to $1.3033 in Tokyo. Consequently Japanese yen strengthened to 2-month high at ВҐ101.61. EUR/USD currently is trading at $1.3045 while EUR/JPY is trading at ВҐ101.68.

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Wed, 14 Dec 2011 08:16:28 GMT

Fitch cuts credit outlooks for four Eastern Europe countries

Fitch Ratings agency revised down debt outlooks for Czech Republic, Bulgaria, Latvia and Lithuania from positive to stable. Eastern Europe are closely linked to economic and financial developments in Eurozone therefore growth prospects have been reduced amid intensified financial stress across the euro region, said Fitch. Slower GDP growth makes it harder to cut budged deficits while uncertainty in EU can boost borrowing costs, Fitch added. 

Wed, 14 Dec 2011 08:15:21 GMT

US shares decline on Fed decision

US equities dropped for a second straight day after Fed decided to leave its key interest rate unchanged and retail sales rose at slower pace than predicted. Dow Jones Industrial Average tumbled 0.6% or 66.45 points to 11,954.94, S&P 500 Index lost 0.9% or 10.74 points to 1,225.73, while Nasdaq Composite was down 1.3% or 32.99 points at 2,579.27.

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