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| Version 0 | Version 1 |
|---|---|
| Standard and Poor's lifts US credit outlook | Standard and Poor's lifts US credit outlook |
| (35 minutes later) | |
| Rating agency Standard and Poor's has raised its credit outlook for the US economy from negative to stable. | Rating agency Standard and Poor's has raised its credit outlook for the US economy from negative to stable. |
| In August 2011, S&P downgraded the US rating one notch from AAA to AA+, but now believes further downgrades are less likely as the economy continues to recover. | In August 2011, S&P downgraded the US rating one notch from AAA to AA+, but now believes further downgrades are less likely as the economy continues to recover. |
| The news saw the US dollar strengthen 1.3% against the Japanese yen, and 0.2% against the euro. | The news saw the US dollar strengthen 1.3% against the Japanese yen, and 0.2% against the euro. |
| But S&P is still concerned about the high levels of US debt. | But S&P is still concerned about the high levels of US debt. |
| The move came as the Paris-based Organisation for Economic Cooperation and Development (OECD) said that economic growth in the US and Japan was outstripping that of the eurozone. | The move came as the Paris-based Organisation for Economic Cooperation and Development (OECD) said that economic growth in the US and Japan was outstripping that of the eurozone. |
| But most US analysts remained cautious about the upgrade and the equity markets opened only slightly higher. | But most US analysts remained cautious about the upgrade and the equity markets opened only slightly higher. |
| Omer Esiner, chief market analyst at Commonwealth Foreign Exchange in Washington DC, said: "The revised rating is positive news for the dollar but I do not see it being a major catalyst. | |
| "This is just the latest indication that we are seeing a broad stabilisation and improvement in the economy and ultimately the government's fiscal position is improving, albeit slowly." | |
| Rival rating agencies Moody's and Fitch have both kept their AAA ratings for the US. |