July 29 (Bloomberg) -- The euro weakened against the Swiss franc after Moody’s Investors Service put Spain’s credit ranking on review for a possible downgrade.
The euro depreciated 0.3 percent to 1.14490 as of 6:25 a.m. in London.
The review stems from “the continued funding pressures facing the Spanish government, which the precedent set for future euro-area support arrangements by the official package for Greece is likely to exacerbate, and the resulting increase in risks to bondholders,” Moody’s said today in a statement.
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