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You're reading: Euro falls to 17-month low against dollar
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A French finance minister said Friday that the ratings agency downgraded the country’s credit rating by one notch. News reports also said that Austria’s triple-A credit rating may also be downgraded Friday.

The euro fell to $1.2670 late Friday, from $1.2827 late Thursday. It fell as low as $1.2623 earlier, its lowest level since Aug. 25, 2010.

A lower credit rating by France could hamper Europe’s efforts to resolve its debt crisis. A lowered credit rating means it could cost more to fund bailouts of heavily indebted countries like Greece.

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