Euro depreciates after Spain downgrade

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Source: Bloomberg
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The 17-nation currency weakened on Friday after S&P ratings agency lowered Spanish short term and long term sovereign rating citing Spain's recession as factor that can negatively affect nation's efforts to reduce its budget deficit. Euro depreciated 0.4% versus greenback to USD 1.3169 and slipped 0.6% against Japanese Yen to JPY 106.43. Currently EUR/USD is trading at USD 1.3173.
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