The News Review:

- FREX-Euro cuts gains gnawed by economy financial worries
- FREX-Euro down on Greece downgrade risk appetite fades
- FREX-Euro pares gains on concerns over econ finances
- FREX-Dollar dips vs euro but losses limited before ECB

FREX-Euro cuts gains gnawed by economy financial worries
Reuters 
Dec retail sales due (Changes byline adds quotes updates prices) By Veronica Brown LNDN Jan 14 (Reuters) – The euro cut broad early gains onWednesday as concerns over the single currency bloc’s economyand public finances mounted ahead of Thursday’s verdict oninterest rates from the European Central Bank. The euro had earlier hit session highs on a tentative easingin extreme risk aversion but reports later denied that Irelandmight need IMF help if its economy worsened took it down morethan a cent from those levels.

FREX-Euro down on Greece downgrade risk appetite fades
Reuters 
retail sales plunge dampening risk appetite * ECB meets on Thursday expected to cut rates by 50 bps * Russia weakens ruble to six-year low vs dollar (Recasts updates prices adds comment changes byline) By Steven C. Johnson NEW YRK Jan 14 (Reuters) – The euro fell against thedollar and yen on Wednesday after a downgrade to Greece’s debtrating heightened fears about the euro-zone economy and a sharpslide in U. retail sales suggested a deepening global slump. 7 percent plunge in sales at U.

FREX-Euro pares gains on concerns over econ finances
Reuters 
Dec retail sales (Adds comments updates prices) By Tamawa Desai LNDN Jan 14 (Reuters) – The euro pared earlier gains onWednesday as concerns mounted over the euro zone economy and thestate of its public finances overriding earlier cautiousoptimism that had prompted investors to buy the currency. Data on Wednesday showed Germany’s economy grew at itsslowest pace in three years in 2008. More pointedly data showedthe euro zone’s biggest economy had contracted by between 1. 0 percent in the final three months of the yearthe largest fall since German reunification in 1990.

FREX-Dollar dips vs euro but losses limited before ECB
Reuters 
December retail sales figures later in the day By Kaori Kaneko TKY Jan 14 (Reuters) – The dollar edged down from aone-month high against the euro on Wednesday but remainedunderpinned as investors braced for a possible interest rate cutby the European Central Bank later in the week. The ECB is expected to cut rates by 50 basis points from thecurrent 2. 5 percent at a policy meeting on Thursday to help fighta broad economic downturn. Spain on Monday became the third euro zone country since lastweek to be warned by ratings agency Standard & Poor’s that itscredit rating is under threat from the global credit crisis.
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