RTRS: Euro pares losses on Trichet's Portugal comments
The euro trimmed losses versus the dollar on Thursday following comments from European Central Bank President Jean-Claude Trichet on Portugal.
Trichet said the ECB "has decided to suspend rating requirement for Portugal." For more see [ID:nLDE766130].
The euro last traded at $1.4271 EUR=, still down 0.3 percent on the day but up from a session low of $1.4219 hit immediately after Trichet started his press conference.
Analysts said that while the decision is not entirely surprising, it indicates some degree of flexibility on the part of the ECB as euro zone policymakers struggle to reach agreement on solving the region's spreading debt crisis.
Portugal's debt has come under scrutiny after Moody's this week downgraded the country's credit rating to junk. (Reporting by Wanfeng Zhou; Editing by James Dalgleish)
