U.S. Downgrade Exacerbates Yen Misery for Elpida, Fuji Heavy

U.S. Downgrade Exacerbates Yen Misery for Elpida, Fuji Heavy

Tomohiro Ohsumi/Bloomberg

The yen rose to as much as 78.47 against the dollar as investors shunned the greenback after Standard & Poor’s cut the rating on the U.S.’s long-term debt to AA+.