Dollar Drops Versus Yen to Lowest in April as S&P Lowers Outlook
This article is for subscribers only.
The dollar dropped to its lowest level this month against the yen as Standard & Poor’s reduced the U.S. credit outlook to negative while affirming its AAA long-term credit rating.
The euro fell the most in a month versus the yen as yields on Greece’s two-year notes increased to 20 percent for the first time. New Zealand’s dollar dropped against all of its major counterparts as the South Pacific nation’s inflation slowed. The U.S. currency fell for a third day versus the yen as S&P cited rising budget deficits and debt.