Credit rating agency Fitch downgraded Ireland’s score to BBB+. Needless to say, this came as no surprise. Credit rating agencies such as S&P, Moody’s and Fitch are always late. The real credit rating is better reflected in CDS – Credit Default Swaps. It’s no news that the Irish sovereign is having trouble, due to its banks. Speaking about defaults and banks, the Bank of Ireland (nyse:ire) announced a haircut to bondholders – burden sharing if you wish. This adds to the restructuring in Anglo Irish and to the fears that also senior debt holders will be subject to the razors. They’re safe, at least for now, and only junior bondholders suffer at the moment. As the Irish crisis has been resolved, at least for now, so Fitch left the outlook on “stable”. The country that will gather attention soon is Portugal. The ECB focuses its efforts on Porutgal – it is marked as the next domino in the European debt crisis, and the last country that can be saved using the current money allocated to the EU / IMF fund. Spain is too big to bail. EUR/USD is trading lower today, but this move began hours before the announcement by Fitch. Euro/Dollar finds support at 1.32 at the moment. Want to see what other traders are doing in real accounts? Check out Currensee. It’s free.. Yohay Elam Yohay Elam Yohay Elam: Founder, Writer and Editor I have been into forex trading for over 5 years, and I share the experience that I have and the knowledge that I've accumulated. After taking a short course about forex. Like many forex traders, I've earned a significant share of my knowledge the hard way. Macroeconomics, the impact of news on the ever-moving currency markets and trading psychology have always fascinated me. Before founding Forex Crunch, I've worked as a programmer in various hi-tech companies. I have a B. Sc. in Computer Science from Ben Gurion University. Given this background, forex software has a relatively bigger share in the posts. Yohay's Google Profile View All Post By Yohay Elam Forex Bits share Read Next Allied Irish Banks Scavenging Before Haircut? Yohay Elam 12 years Credit rating agency Fitch downgraded Ireland's score to BBB+. Needless to say, this came as no surprise. Credit rating agencies such as S&P, Moody's and Fitch are always late. The real credit rating is better reflected in CDS - Credit Default Swaps. It's no news that the Irish sovereign is having trouble, due to its banks. Speaking about defaults and banks, the Bank of Ireland (nyse:ire) announced a haircut to bondholders - burden sharing if you wish. This adds to the restructuring in Anglo Irish and to the fears that also senior debt holders will be subject to the razors.… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.