S&P revises up Ireland outlook to stable from negative

The Standard and Poor's rating services has maintained its Ireland rating at BBB+ but has revised upward the Irish outlook from negative to stable on the back of promissory notes exchange.

Earlier on the day, BUBA’s J.Weidmann took ECB president Mario Draghi’s relay and is ‘verbally’ pushing the cross to the proximity of 1.3430 in the European evening. Weidmann commented that the euro would not be overvalued at current levels, and he emphasized than a lower exchange rate could derail in higher inflation.