Yen Slides on Ratings Cut |
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April 27, 2011 |
April 2011 Bond Updates
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Analysts at Standard & Poor’s ratings agency took the cost of rebuilding the Japanese economy as its opportunity to cut the outlook for its sovereign debt sending the yen into reverse. The cut follows the recent spate of natural disasters and ensuing nuclear power meltdown that earlier spurred record strength for the yen before concerted central bank intervention attempted to alleviate pressure on exporters. Today’s yen decline won’t upset the authorities, although they probably won’t be too impressed with the tone of the downgrade.
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View more at: http://blogs.forbes.com/greatspeculations/2011/04/27/yen-slides-on-ratings-cut/
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