KT: Euro falls against dollar after downgrade warnings
(AP) - The euro is falling against the dollar after Standard & Poor's warned it could downgrade the debt of the region's bailout fund as well as most of the countries that use the euro.
The credit ratings agency said Monday that it could downgrade 15 of the 17 countries that use the euro, including Germany, Europe's largest economy. On Tuesday, Standard & Poor's warned that it could also cut the rating of Europe's bailout fund.
The euro fell to $1.3384 in midday trading Tuesday from $1.3401 late Monday.
The British pound fell to $1.5582 from $1.5644. The dollar fell to 77.71 Japanese yen from 77.77 Japanese yen. It rose to 0.9267 Swiss franc from 0.9205 Swiss franc.
