Euro trading under 1,47 dollar

[Femi]

Dealer's comment

The Euro continued trading in Wednesday under the mark at 1,47 US dollar. In the morning trading the single European currency marked 1,4690 dollar, but fell in the late evening under this level. The European Central bank (ECB) has set its reference course at 1,4774 dollar.

From the beginning of this week the euro suffered from Greece's debt downgrade. The rating company Fitch has downgraded Greece's debt credibility on Tuesday due to its unhealthy public finances situation. The euro zone is so strong as the weakest member in the chain”, commented the Commerzbank. The Greece topic is on Wednesday in agenda, too. (www.ifcmarkets.com)