Dollar up, yen down as Fitch downgrades Japan

Note: This section contains information in English only.
Source: Marketwatch
On Tuesday Fitch Ratings downgraded Japan's sovereign rating by two notches to A+ from AA. This weakened the Japanese yen and strengthened the U.S. dollar. The ICE dollar index that weighs dollar against a set of six major currencies advanced by 0.41%, to 81.266. The dollar bought 79.91 yen, up 0.75%. The euro gained 0.3% and reached 101.94 yen. However, Adam Cole of RBC Capital Markets argues that, judging from the effect of previous Japanese sovereign rating cuts, this downgrade will not make any permanent damage either, because Japan's government bonds are mostly domestically owned.
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