Euro Near 5-Week Low on Concern More European Ratings to Be Cut

The euro traded near a five-week low against the dollar on speculation credit ratings of more European nations will be cut after Greece’s debt ranking was lowered by Fitch Ratings.

The pound was near its weakest level in almost two months versus the dollar on concern that Dubai’s state-controlled companies will have to sell U.K. assets to pay for loan obligations. The yen reversed earlier gains on speculation the Bank of Japan will take more credit-easing measures after a report showed the economy expanded less than initially estimated in the third quarter.

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- Posted: 2009-12-08 20:00:30

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