05 Jul '11, 10pm

Dollar rises, euro falls on Portugal news

NEW YORK: The euro dropped sharply against the dollar late Tuesday after the Moody's ratings agency downgraded Portugal, fuelling fears of another eurozone country plunging into a Greece-like second crisis. The dollar was trading at $1.4418 against the euro at 2100 GMT in New York on Tuesday, having strengthened from $1.4539 Monday. Against the Japanese currency, the dollar rose to 81.10 yen from 80.80 yen on Monday. The euro fell sharply in the minutes after Moody's Investors Service slashed Portugal's credit rating by four notches to Ba2 from Baa1 and warned that it could be lowered further. "We reached some important progress on Greece last week, but the sense of the market has been that the peripheral debt problems are not going away any time soon," said Vassili Serebriakov, currency strategist for Wells Fargo. "Now with the Portugal situation ... it may be following t...

Full article: http://www.channelnewsasia.com/stories/afp_world_business...

Tweets

Euro steady against dollar after S&P Greek warn...

channelnewsasia.com 04 Jul '11, 5pm

LONDON: The euro was steady against the dollar Monday despite a warning from ratings agency Standard and Poor's which appe...

Cracks in Europe bailouts send dollar higher

channelnewsasia.com 06 Jul '11, 10pm

NEW YORK: Sliding confidence in Greek and Portuguese bailouts sent the euro tumbling and the dollar higher again Wednesday...

Death toll rises as Hama defies Syria army - Channel News Asia /@FLASH_NEWS #Syria

Death toll rises as Hama defies Syria army - Ch...

channelnewsasia.com 05 Jul '11, 6pm

DAMASCUS: Security forces killed at least 11 people in Hama Tuesday while residents mobilised to keep Syria's army out, ac...

Fall for Victoria Falls - Zambia is one of the ...

aluxurytravelblog.com 05 Jul '11, 12pm

Zambia is one of the most exciting and progressive tourist destinations in Africa today. A land that still feels the socio...