The euro slid against the Japanese yen on the concerns for the costs required to bailout Ireland’s banks and after Spain’s credit rating was downgraded. The currency rose against the US dollar.
Ireland’s central bank said the Anglo Irish Bank Corp. and Allied Irish Banks Plc would require more money to bailout, perhaps as much as â¬14.4 billion ($19.6 billion). The Moodyâs Investors Service downgraded Spain’s debt rating from Aaa to Aa1, pointing out the nation’s weak economy.
EUR/USD went up from 1.3626 to 1.3666 as of 10:24 GMT today, following the decline to 1.3560. EUR/JPY fell from 144.04 to 113.82 after it reached its intraday low of 112.99.
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