Dollar drops versus yen after Fitch p...

Dollar drops versus yen after Fitch puts U.S. rating on credit watch

Posted in the Minneapolis Forum

GOP Shutdown Results

Baltimore, MD

#1 Oct 15, 2013
The dollar fell against the yen and trimmed earlier gains versus the euro after Fitch late on Tuesday placed the United States' triple A rating on credit watch after negotiations to raise the nation's debt ceiling and end the government shutdown sputtered.

The Senate on Tuesday also halted discussions on its own plan and is waiting for the Republican-controlled House of Representatives to come up with an alternative proposal before Thursday, when the U.S. Treasury says the government will reach its borrowing limit. This brings the world's largest economy closer to potentially defaulting on its debt obligations. "Completion of a debt ceiling agreement before the Thursday Treasury deadline appears increasingly unlikely, and market stress is likely to build further in the days ahead," said Vassili Serebriakov, currency strategist at BNP Paribas in New York.

The dollar fell to session lows against the yen at 98.07 yen following the Fitch move. Earlier, it hit a two-week high of 98.72 and was last at 98.34 yen, down 0.3 percent. The dollar also trimmed gains against the euro after the ratings action. The euro, however, ended the day down 0.3 percent at $1.3523.

Read more:

Tell me when this thread is updated:

Subscribe Now Add to my Tracker

Add your comments below

Characters left: 4000

Please note by submitting this form you acknowledge that you have read the Terms of Service and the comment you are posting is in compliance with such terms. Be polite. Inappropriate posts may be removed by the moderator. Send us your feedback.

Minneapolis Discussions

Title Updated Last By Comments
Senator Hopes Trump Assassinated 1 hr Maggie 20
News Global warming 'undeniable,' scientists say (Jul '10) 13 hr Patriot AKA Bozo 37,261
Get Out of Jackson, Wyoming! 18 hr Tim Shey 1
Fox news sold out and is fake news now 19 hr Davycrockett 4
All these big mouth white boys who never fought... 19 hr Davycrockett 7
Drop one word....add one word game (Apr '14) Thu _Zoey_ 737
Why is it ?? Thu Davycrockett 16

Minneapolis Jobs

More from around the web

Personal Finance

Minneapolis Mortgages