The single currency started the pressure in the morning on Tuesday on a number of factors. In the first place in the Spanish press reported on a possible reduction AAA status, given that Moody's began to analyze Spain at the end of June, and it should last three months. There is an excellent refutation of the efficient market hypothesis: they react as if the information had already come, and yet in reality there is not any confidence in the lower Moody's rating of Spain or not. In addition, we see quite sluggish consumption data in France, where consumer spending dropped by 1.6% in August and July were revised from 2.7% to -1.5%. Consumption dropped 5 of 6 months. In general, at this point is possible some correction euro, given the extent the recent growth. However, given the downward pressure on the currencies of U.S. and Asia, Europe can serve as a safety valve and it will support the euro in the background.
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