Moody's, Stocks and U.S. Dollar Index
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Gold rose as the dollar tumbled after Moody’s Ratings stripped the US of its last top credit rating due to ballooning debt and deficits.Most Read from BloombergAmerica, ‘Nation of Porches’Maryland’s Credit Rating Gets Downgraded as Governor Blames Trump NJ Transit Train Engineers Strike,
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Cryptopolitan on MSNUS dollar hits 2-week low as traders get more bearish than ever ahead of G7 meetingThe dollar is falling way too fast. On Wednesday, the Bloomberg Dollar Spot Index dropped by 0.4%, logging its third straight day of losses and hitting its lowest point in two weeks.
The yield on both 10 and 30-year government bonds rose on Monday after another credit ratings agency downgraded the US on Friday.
A gauge of the dollar fell to its lowest mark in a month as traders awaited a Group-of-Seven meeting this week for any signs that the Trump administration is seeking a weaker US currency.
The dollar slipped again Tuesday, weighed down by the Federal Reserve’s caution over the economy while traders considered news of upcoming U.S.-Japan talks.
Gold prices drifted higher on Monday, steered by a softer dollar and safe-haven demand after Moody's downgraded the U.S. government's credit rating.
Treasury yields fall and the dollar is little changed as Monday's "Sell America" trade recedes a bit. Concerns about the U.S. government debt flared up after the Moody's downgrade and the progress of a tax bill in Congress that looks poised to widen the already worrisome budget hole.