The market witnesses another downgrading for Spanish's government bonds rating, where the Moody's Investors agency lowered Spain's sovereign ratings, increasing the concern for the region's debt crunch.

Meanwhile, the American dollar beside the Japanese yen increased against the major currencies as the investors shifted their investment to safe haven investments on Spain's bonds rating cut.

Moreover, the Australian and New Zealand dollar held yesterday's advance as the expectations indicated that U.S. stocks will drop, reducing the demand for high yielding assets.