Fitch analyst: Stable outlook means Spain safe for a year

CNBC just interviewed the son a Fitch who just downgraded Spain. He says his stable ratings outlook means that Spain’s rating likely won’t be adjusted for the next year.

EUR/USD continues to hold up better than most would have expected, finding support ahead of 1.2280. Bounces are modest, however. Look for stocks to set the tone for the final hours of the session. EUR/USD trades at 1.2305.