Cyber Monday Deal: Up to 60% off InvestingProCLAIM SALE

Forex - Dollar up across the board after S&P cuts Japan’s rating

Published 01/27/2011, 04:44 AM
EUR/USD
-
GBP/USD
-
USD/JPY
-
USD/CHF
-
AUD/USD
-
USD/CAD
-
NZD/USD
-
Investing.com – The U.S. dollar was up against all of it’s major counterparts on Thursday, after S&P cut Japan's sovereign debt ratings, prompting a sharp rise in the dollar and pushing the euro off a two-month high.

During European morning trade, the greenback was sharply higher against the yen with USD/JPY surging 0.72% to hit 82.75.

 Earlier in the day, S&P lowered its credit rating on Japan to AA- from AA, citing concerns over the country’s high fiscal deficits.

The greenback was also up against the euro, with EUR/USD slipping 0.15% to hit 1.3692.

On Wednesday, the Federal Reserve held interest rates steady at 0.25% and said it would see its USD600 billion bond-purchasing plan through to completion in June.

The greenback was also up against the pound and the Swiss franc with GBP/USD sliding 0.12% to hit 1.5912 and USD/CHF rising 0.32% to hit 0.9452.

Meanwhile, the greenback was up against its Canadian, Australian and New Zealand counterparts, with USD/CAD climbing 0.18% to hit 0.9957, AUD/USD tumbling 0.74% to hit 0.9915 and NZD/USD shedding 0.31% to hit 0.77.

Also Thursday, the Reserve Bank of New Zealand kept its benchmark interest rate unchanged at 3.0%, in a widely expected decision.

The dollar index, which tracks the performance of the greenback versus a basket of six other major currencies, was up 0.1%.

Later in the day, the U.S. was to publish official data on initial jobless claims, as well as reports on durable goods orders and pending home sales.


Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.