> Spain downgraded to AA- on growth, banks: S&P

Spain downgraded to AA- on growth, banks: S&P

Thursday, 13/10/2011 | 22:45 GMT

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EUR/USD has fallen from 1.3760 to 1.3740.

Spanish outlook seen as negative
Profile of Spanish banking to weaken further
High unemployment likely to remain and will be a drag on economic recovery

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