The euro traded with some volatility. EUR-USD dove back under 1.0700 after peaking in early Asia at 1.0747. EUR-JPY reversed from a six-day high at 127.86, diving below 127.00 before recouping to the 127.30 area. Greece remains a big thorn in the side of the euro. S&P cut Greece’s credit rating further into junk territory, to CCC+ from B- with a negative outlook warning that “without deep economic reform or further relief” the nation’s debt and other financial commitments will be unsustainable.