Daily Video Recap (3/24): EUR/USD Breaks Below 1.3450 as Fitch Downgrades Portugal's Rating

Wednesday, March 24th, 2010
Recap: The Euro slid sharply against the Dollar as there continues to be shifting expectations about a possible bailout package of Greece. Now, it seems that the IMF will be a main part of any aid plan. Traders may already be focused on other Euro-zone periphery countries, as Portugal's credit rating was downgraded by Fitch. The news pushed the EUR/USD to a 10-month low. Feeding off the risk aversion in the markets and as the main destination for safe-haven flows, the US Dollar strengthened in today's trading.

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Analyst: Nick Nasad

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