Midday trade in New York: Euro pressured by debt fears

The euro fell on Friday after Moody's cut Ireland's rating to just above "junk" status, keeping eurozone debt problems in focus, though the currency was underpinned by expectations of more rate rises. In midday New York trading, the euro fell 0.4 percent on the day to $1.4424, well below a 15-month high of $1.4521 touched earlier this week. The euro was down 0.3 percent so far this week.
The dollar, meanwhile, was down 0.4 percent at 83.12 yen, but losses were limited. Traders said Japanese life insurance companies have been buying the dollar and euro at its lows with stops in the dollar/yen pair building below 83 yen.