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Currencies – Portugal’s Credit Rating Now Junk, Euro Feels Bad

Posted on: July 5, 2011

The euro slumped today, falling against the US dollar for the first time after six sessions of gains, as Moody’s downgraded Portugal’s rating to junk today. Moody’s Investors Service cut the credit rating of Portugal to Ba2 from Baa1, two levels below investment grade, and assigned a negati

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