Ireland was downgraded by Moody's Investor Services by two notches to Baa3 Baa1. EUR/USD dipped down by 17 pips from 1.4468 to 1.4450 in the space of less than 5 minutes. EUR/USD is currently trading at 1.4492, gaining strength from its opening level.
EUR/GBP dropped to 0.8851 from 0.8860, currently trading 0.8855; keeping a steady price with little movement at the moment.
Despite the downgrade, Ireland tarries in the investment-grade category mirroring the country's economy's nonstop competitiveness. The negative news on the government bonds by Moody's created dubiety on the country's outlook. The news crippled the confidence of the Irish government's financial energy and created uncertainty by the solvency test necessary by the ESM (European Stabilization Mechanism).
MegaTraderFX - The company, employees, subsidiaries and associates, are not liable nor shall they be held liable jointly or severally for any loss or damage as a result of reliance on the information provided on this website. The data contained in this website is not necessarily provided in real-time nor is it necessarily accurate.
All prices herein are provided by market makers and not by exchanges. As such prices may not be accurate and they may differ from the actual market price. MegaTraderFX bears no responsibility for any trading losses you might incur as a result of using any data within the MegaTraderFX.
