Market News
Dollar slips after US credit downgrade, Aussie edges higher before RBA - REUTERS
By Rocky Swift and Kevin Buckland
Summary
- Dollar dips to one-week low vs yen as traders weigh U.S. outlook
- U.S. trade tensions simmer, FT reports thaw with EU
- Bessent warns of April 2 tariff levels for nations that don't negotiate "in good faith"
TOKYO, May 19 (Reuters) - The U.S. dollar dipped to a one-week low versus the safe-haven yen on Monday as markets digested a surprise downgrade of the U.S. government's credit rating and as trade friction concerns weighed on sentiment.
Australia's dollar turned higher following three days of declines ahead of Tuesday's Reserve Bank of Australia policy announcement, with a quarter-point cut widely expected.
Moody's cut the United States' top sovereign credit rating by one notch on Friday, the last of the major ratings agencies to downgrade the country, citing concerns about its growing $36 trillion debt pile.
