Euro Rebound After Italy Sells
The euro rebounded today after Italy sold maximum amount of its bonds on today's auction, easing worries about the credit crisis in the European Union that reemerged after Moody's cut credit ratings of several European countries.
The Japanese yen gained today after Moody's Investor Service downgraded credit ratings of several countries, including Italy, Spain and Portugal. This action hurt market sentiment that was positive after the good news from Greece.
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