Wednesday, February 17, 2010
Euro Tumbles on Renewed Concerns Over Greek Budget Resolution
The U.S. Dollar posted strong gains against all major currencies as concerns about Greece’s ability to stick to its new strict budget flared up once again. In addition, a fresh wave
of selling pressure hit the Euro after Moody’s Investor Service downgraded ratings on about 4 billion Euros of Greek bank hybrid securities. Both events encouraged investors to seek safety in the
U.S. Dollar.
