Euro Up As Fitch Says France Won't Be Downgraded

By: AP
By: AP
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NEW YORK (AP) -- The euro is rising against the dollar after Fitch Ratings said that it won't cut France's top-shelf credit rating this year.

News that France won't lose its prized triple-A rating was a relief to investors. If France were downgraded it could hurt efforts to resolve Europe's debt crisis.

Fitch did, however, warn that Italy, Spain, Belgium, Ireland, Slovenia and Cyprus could be downgraded by the end of the month.

The euro rose to $1.2781 in midday trading Tuesday from $1.2762 late Monday.

In other trading, the British pound rose to $1.5488 from $1.5450. The dollar slipped to 76.82 Japanese yen from 76.89 yen and to 0.9498 Swiss franc from 0.9506.

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