The EUR was under pressure Thursday over concerns of high debt levels of some of its member countries. Greece had its rating downgraded and Spain had its outlook lowered to negative. Portugal was also warned of a possible downgrade. Late Thursday the EUR was unchanged at $1.4730 and at 129.94 Yen from 129.41 Yen. The Pound was at $1.6274 from $1.6270.
The currency posted little reaction to Thursday's decision by the Bank of England to leave its key lending rate unchanged at a record low 0.5%. The Bank of England also maintained its asset-buying program at 200 billion pounds ($326 billion), in line with the economists' forecasts.
While positive economic data continues to come from Germany, Euro-Zone's largest economy concerns about sovereign ratings in the Euro-Zone's smaller countries and the potential for choppy economic growth seem to be putting downward pressure on the EUR at the moment, possibly pushing it even lower against the USD.