We can’t add Italy to the downgrade list today. Fitch says it does not currently see any risk to Italy’s rating and that it faces a smaller challenge than some of the eurozone peripherals at stabilizing its debt, according to Reuters.
EUR/USD remains soggy after failing at 1.3265/70 resistance and the failure of Trichet and Strauss-Kahn to confirm the EUR 120 bln bailout figure.
We trade now at 1.3185.
