The euro traded near the lowest in more than a week against the dollar as concerns Europe’s debt crisis will linger damped demand for the region’s assets.

Europe’s currency headed for a weekly loss against the dollar after Fitch Ratings downgraded Ireland. European Central Bank President Jean-Claude Trichet and ECB Governing Council member Miguel Angel Fernandez Ordonez will speak to reporters in Madrid today. The dollar held yesterday’s loss against the yen as benchmark Treasury yields dropped, reducing the allure of U.S. assets.

“Residual concern about European debt, I don’t think it’s going to go away fully for quite some time,” said Adam Carr, a senior economist at ICAP Australia Ltd. in Sydney. “We haven’t seen a lot of rise in the euro.”

The euro fetched $1.3248 at 8:17 a.m. in Tokyo from $1.3239 in New York yesterday, when it touched $1.3165, the lowest since Dec. 2. The euro was at 111.02 yen from 110.87 yen, following a 0.5 percent drop. The dollar traded at 83.80 yen from 83.76 yen.

The Dollar Index, which tracks the greenback against the currencies of six major U.S. trading partners including the euro, yen and pound, was little changed at 80.057 yesterday.

Fitch yesterday cut Ireland’s credit rating to BBB+ from A+, three steps above non-investment grade, citing the mounting cost to rescue the nation’s banking system.

“The downgrade reflects the additional fiscal costs of restructuring and supporting the banking system,” Fitch said in the statement. “Ireland’s sovereign credit profile is no longer consistent with a high investment grade rating.”

The nation’s Fianna Fail, the main party in the coalition government, will put Ireland’s 85 billion-euro ($114 billion) aid package from the European Union and International Monetary Fund to a parliamentary vote Dec. 15, Prime Minister Brian Cowen said yesterday in an e-mailed statement.

Treasury 10-year yields dropped seven basis points, or 0.07 percentage point, to 3.20 percent yesterday.