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The Eurozone outlook has worsened today as Italy has had its credit rating cut by Standard and Poor’s (S+P). S&P cut Italy’s rating by 1 from A to A+ and stated the reason for the downgrade was the “negative” outlook for the country admidst fears over its ability to reduce state spending. This a long with poor growth outlooks has shaken investors confidence and i’m sure the full affects are still to be felt over the coming weeks. If you are looking at buying or selling Euros currently it has never been more important to speak with an expert. Greece has the possibility of defaulting on its debt soon however if the IMF release the next tranche of the Greek bailout it is likely to cause more Euro strength.

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