2012-06-08 09:42:00
The pair EUR/USD traded downward at the Forex currency market on Friday morning.
By 8.50 Moscow time the Euro is at 1.2521 against yesterday's closing level of 1.2559.
News, that rating agency Fitch has downgraded rating of Spain for 3 notches to BBB from A with negative forecast, caused a slump.
The agency stated that credit risks of Spain became the main reason for revision of the rating, which in fact means instability of the entire financial system.
Market has to deal with this information today.
Most likely the pair EUR/USD will not leave the channel of 1.2480-1.2590 at the trading session on Friday.