Greece has been downgraded to CA from CAA1.
The day was never going to last without some EU negative headlines.
- EU program and debt exchanges will increase liklihood that Greece can stabilise and reduce debt
EUR/USD has posted a new intraday low at 1.4341. Bids reported at 1.4280 with Friday nights low at 1.4325 ahead of that.
EUR/USD holding up reasonably well despite the not unexpected downgrade.
