The euro currency fell further, marking a fifth straight day of losses against the US dollar as weak European data and a ratings watch for Germany added further gloom for the common currency.<\/p>\n
Latest Euro Exchange Rates<\/strong><\/p>\n The euro was at $1.2097, down 0.1 percent on the day, and not far from a two-year low of $1.2067 touched on Monday as concerns about Spain’s debt problems intensified.<\/p>\n Germany AAA Rating Negative<\/strong><\/p>\n Credit ratings agency Moody’s has changed its outlook for Germany’s AAA credit rating to negative, the first step towards a possible downgrade. Moody’s said the country was at risk from the increased likelihood of a Greek exit from the euro and the need to provide more support to Spain.<\/p>\n Earlier this year, Moody’s put France and Austria’s AAA ratings on negative outlook.<\/p>\n Moody’s said there was an increased chance that Greece could leave the eurozone, which “would set off a chain of financial sector shocks”.<\/p>\n It added that policymakers could only contain these shocks at a very high cost.<\/p>\n Germany\u2019s private sector shrank in July at the fastest rate in more than three years, according to a survey that underscored the spread of the eurozone crisis to the bloc\u2019s strongest economies and cemented the likelihood that the region has slipped into recession.<\/p>\n A eurozone index of purchasing managers showed activity across the region\u2019s private sector contracting for a sixth successive month.<\/p>\n<\/p>\n