Euro Falls as EU Ministers Meet

The euro lost ground on Monday as EU finance ministers meet in Brussels to discuss how best to tackle the ongoing debt crisis. The meeting comes on the heels of news that ratings agency Moody’s has downgraded its assessment on Hungary’s bonds highlighting “increased concerns about the country’s medium- to long-term fiscal sustainability”.

The euro fell to 1.3277 dollars in early-morning trading after closing at 1.3415 dollars in New York on Friday.

Source: AFP News

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