Moody’s places Spain’s AAA on review for possible downgrade

A little late to the party, no?

Fitch cut their rating a month ago and S&P cut a month before that.

Moody’s blames deteriorating economic prospects for the review? What was their first clue? No wonder S&P put Moody’s on review for a downgrade earlier today. A cut could be one, or at most, two notches, Moody’s says.

EUR/USD dipped to 1.2240 on the headline and now trades at 1.2252.