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Forex news: Moody’s cuts Citi’s credit ratings
By Jamie Coleman || February 27, 2009 at 20:27 GMT
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Let me get this straight: the same geniuses who rated sub-prime poop as AAA today downgrades a bank that the US government holds a 40% stake in and has vowed it will not let fail. There seems to be something of a disconnect there, but I’m just a humble FX scribe.
US equities are back under pressure, down 1.6% with about 35 minutes to go. EUR/USD has dipped to 1.2680 as stocks go soft.
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