Euro falls versus U.S. dollar after Moody's cuts France credit rating

NEW YORK Mon Nov 19, 2012 5:42pm EST

A structure of the Euro currency sign is seen through the window on a rainy evening in Frankfurt July 13, 2012. REUTERS/Alex Domanski

A structure of the Euro currency sign is seen through the window on a rainy evening in Frankfurt July 13, 2012.

Credit: Reuters/Alex Domanski

NEW YORK (Reuters) - The euro slid lower against the U.S. dollar late on Monday following the loss of a coveted Aaa credit rating from Moody's Investors Service.

The euro slipped 0.27 percent to $1.2777 against the greenback on the news. Prior to the rating action the euro was trading near a two-week high on the U.S. currency.

Moody's cut France to Aa1 and maintained a negative outlook on the credit, citing the country's uncertain fiscal outlook as a result of "deteriorating economic prospects."

(Reporting by Daniel Bases; Editing by Phil Berlowitz)