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Forex Trading Reviews & News 
By: Sara Patterson
With Moody’s credit agency now reviewing the country’s situation, Spain may be the next country to have its debt status downgraded, once again fueling fears of contagion and instability in the region. For now, the country’s credit rating is still ranked well above those of Italy, Portugal and Greece, though concerns over the country’s growth and long-term budget balance may threaten this position. The Euro fell yesterday following the announcement of Moody’s review, nearing lows around $1.4281. The common currency weakened against the Swiss Franc and the Japanese Yen as well. Spanish and Italian bond prices also plummeted as a result of the impending review.
US stock prices were equally dismal as the expected vote on a plan to raise the country’s debt limit was delayed. S&P’s 500 Index sank 0.5%, and the Yen climed 0.3% to 77.46 per dollar. The dollar slipped 0.3% in the past week as well, hitting a total 1.5% loss in the past month.
