Forex: EUR/USD falls to session lows after Catalonia downgrade

FXstreet.com (Córdoba) - The euro retraced part of its intraday gains versus the dollar and fell to a New York session low of 1.2557 after S&P downgraded Spain's region of Catalonia to BB, two notches below the investment level.

Market is still assessing Bernanke's words, which reiterated that the Federal Reserve will provide stimulus as needed to boost the US economy, but refrained from announcing any specific or imminent decision.

After hitting an 8-week high of 1.2636 after the speech, EURUSD entered into a hesitation period and finally turned lower. At time of writing, EURUSD is quoting at the 1.2560 area, still up 0.4% on the day.