The Standard and Poors rating agency downgraded Greek government debt early Tuesday to junk-bond status. This action brought the Euro down in relation to other currencies including the dollar, according to a report from Reuters.

Our survey showed otherwise (see charts below).The (Greek) outlook is negative. At the same time, we assigned a recovery rating of '4' to Greece's debt issues, indicating our expectation of "average" (30%-50%) recovery for debtholdersIn the event of a debt restructuring or payment default,” S&P said. “The 'AAA' transfer and convertibility assessment is unchanged.” Free Real time stock quotes.

Standard & Poor's Ratings Services changed their long term and short term sovereign credit ratings on Greece to BB+ and B respectively. The company had rated the Hellenic Republic BBB+ and A-. The rating agency also downgraded Portugal sovereign bonds. These actions set off stop-loss sell-orders in Asia, according to Dow Jones.

The Confidence Board reports that consumer confidence increased in March and continuing to improve in April. “The Present Situation Index increased to 28.6 from 25.2,” the board said in a statement. “The Expectations Index improved to 77.4 from 70.4”.

The dollar gained against some currencies Tuesday, including against the Japanese Yen, according to our surveys. The dollar lost against the Hong Kong, Australian and Canadian dollars. See the charts below for the results of both of our surveys.

According to one of our surveys the Euro was unchanged against the dollar. Our other survey showed the U.S. lose ground against the Euro. Reuters found that the dollar gained against the Euro. Dow Jones also reported that the dollar gained against the Euro.

Citing Interbank Foreign Exchange Rates, the Dow Jones Company reported late Tuesday that the dollar lost ground against the Euro. Gold increased as investors tried to find a safe haven. Besides gold, some investors may be turning to the dollar.