Credit Rating — News Archive

Euro Ends Week with Losses vs. Dollar, Mixed Against Other Currencies

The euro demonstrated big losses against the US dollar this week, falling to the lowest level in more than two years. The euro’s performance against other currencies was mixed: the shared 18-nation currency ended the week lower against the Great Britain pound, flat versus the Australian dollar while against the Japanese yen, the euro reached a new multi-year high.

Yen Gains, Under Pressure from Credit Rating Downgrade

The Japanese yen rallied yesterday and maintained its gains today. The currency was under pressure after Moody’s Investor Service decided to cut Japan’s credit rating on Monday. The yen remained soft against the Great Britain pound.

S&P Reaffirms Russia’s Credit Rating, Ruble Higher

The Russian ruble gained today as Standard & Poor’s reaffirmed Russia’s sovereign credit rating, alleviating concerns about a potential reduction of the grade to junk.

Ruble’s Woes Continue

Woes of the Russian ruble continue as the currency extended its drop today due to concerns that Standard & Poor’s may reduce Russia’s credit rating to junk, adding to incentive for investors to avoid Russian assets.

Russian Ruble Tumbles After Moody’s Downgrade

The Russian ruble sank today following Friday’s announcement from Moody’s about a downgrade of Russia’s credit rating due to the damage that sanctions from the United States and the European Union have done to the already fragile Russian economy.

S&P Comments Bolster Indian Rupee

The Indian rupee climbed after Standard & Poor’s praised the efforts of the country’s government to reduce the budget deficit, which may improve the outlook for India’s sovereign credit rating.

NZ Dollar Gains as Fitch Raises New Zealand’s Credit Rating Outlook

The New Zealand dollar gained today as Fitch ratings raised the outlook for the nation’s credit rating from stable to positive, adding to signs that the New Zealand economy performs very well.

Rand Drops as S&P Lowers South Africa’s Credit Rating

The South African rand dropped today as Standard & Poor’s lowered the nation’s sovereign credit rating due to slow economic growth and other problems that make South African assets less attractive to investors.

Rally of Brazilian Real Pauses

The Brazilian real retreated a bit at the current trading session after touching the highest level in fourth months on the previous trading session. The rally has started after Standard & Poor’s cut the nation’s credit rating but changed the outlook from negative to stable, and prices continued to rise till the beginning of this session.

Fitch Keeps US Credit Rating at AAA, Does Not Benefit USD

Fitch Ratings kept the US sovereign credit rating at AAA with stable outlook. This should have given another boost for the dollar but, surprisingly enough, the US currency was not strong at all today, falling against the Japanese yen and dipping versus the euro. The greenback rose against the Great Britain pound, but the gains were small and are all but erased as of now.

Archives

SUBSCRIBE

Subscribe to Forex News by E-mail: