MOODYS DOWNGRADED PORTUGAL by 2 notches to A1 with a stable outlook, prompting broad downside pressure on EUR, but the run-up in equities is boosting EUR back towards $1.2570s from its 1.2520s session lows. GBPUSD rallies by full cent despite retreat in June CPI to 3.2% from 3.7%. Cable eyes 1.5135-40 trendline resistance, while USDCAD vulnerable to 1.0280 from current 1.0330.