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Week Begins with Fall of EUR/USD & USD/JPY
4:10 AM // 0 comments // Unknown // Category: ForexUS DollarThe US dollar extended today its decline versus the Japanese yen that started last Friday after Standard & Poor’s cut the US credit rating. The euro slipped against the dollar.
S&P downgraded the US rating to AA+ on August 5 and left the outlook on ”negative”, signaling that the rating can be further downgraded to AA. Two other major rating agancies, Moody’s Investors Service and Fitch Ratings, maintained their AAA credit ratings for the US on August 2 as American politician resolved their dispute about the nation’s debt ceiling, but these rating agencies also signaled about the possible downgrades.
EUR/USD posted a sharp drop from 1.4417 to 1.4247 as of 9:52 GMT. USD/JPY dropped from 77.96 to 77.61 after climbing to 78.46.
If you have any questions, comments or opinions regarding the US Dollar, feel free to post them using the commentary form below.
Earlier News About the US Dollar:
Future of the US Dollar with AA+ Rating (2011-08-07)
Dollar Declines as Stock Markets Continue Their Fall (2011-08-05)
Dollar Falls on US Growth Slowdown (2011-07-29)
Continued Debates over US Debt Push USD to New Lows vs. CHF (2011-07-25)
Optimism for Europe Returns, Greenback Suffers (2011-07-20)
This entry was posted on TopForexNews on Monday, August 8th, 2011 at 9:52 am and is filed under US Dollar. You can follow any responses to this entry through the RSS 2.0 feed. You can skip to the end and leave a response. Pinging is currently not allowed.
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