Fitch’s concerns of the Euro zone debt crisis spreading are pulling down the Euro today
Fitch Ratings said yesteraday that a number of euro countries, including Italy (the third-largest eurozone economy), could see their credit ratings downgraded by the end of this month as they struggle to cope with too much debt and slowing economic growth. On so-called “ratings watch negative” are currently Italy, Spain, Belgium, Ireland, Slovenia and Cyprus. France and Spain are under review for a possible downgrade at the end of the current month.
The obviously vulnerable euro fell to its lowest in 16 months against the dollar today.
