RTTN: Australian Dollar Plunges To Fresh 2-month Low Against Euro
(RTTNews) - The Australian dollar slumped to a new 2-month low of 1.3804 against the euro and a 2-day low of 0.99 versus the US dollar on Thursday following the rating agency S&P slashed Japan's credit rating. On the downside, the aussie may find target levels at 1.3940 against the euro and 0.9860 against the greenback.
The aussie also traded at a 9-day low of 1.2858 against the NZ dollar at this time. The next downside target for the aussie-kiwi pair is seen around the 1.2840 level.
Japan's sovereign credit rating was lowered one notch by ratings agency Standard & Poor's on Thursday, citing the country's mounting debt load. The credit rating was cut to AA-, with the outlook on the rating seen as "stable."
