Euro Near Lowest Level in a Week

The euro dropped 0.2% from one week low against the dollar on concern Europe's debt crisis and the slowdown in U.S. economic recovery.

The euro weakened 0.4% against the yen yesterday after Moody's Investors Service downgraded the Portuguese government bonds, before the bondholders met with Greek officials in Paris today to discuss their role in saving Greece. Meanwhile, reports this week expected to show the range of U.S. unemployment rate was 9.1%.

The euro fell $ 1.4420 at 07:49 a.m. in Tokyo from $ 1.4429 in New York yesterday, when it touched $ 1.4397, its lowest level since June 29. Against the Yuan, the euro was at 116.93 from 116.97 range. While the U.S. dollar traded at 81.10 from 81.07.

Yesterday Moody's cuts ratings to Ba2 ratings Portugal, two levels below investment grade. It is associated with a growing risk that Portugal will require a second round of financing before it can officially return to the private market.

In the U.S., according to estimates of economists surveyed by Bloomberg in the U.S. unemployment rate may not change.