Dollar Could Show Its True Colors
This morning, Moody's announced that it might downgrade the U.S. credit rating from AAA to AA1 if it sees no improvement in the country's debt-to-gross-domestic-product ratio. The ratings agency wants to see "specific policies that produce a stabilization and then downward trend in the ratio of federal debt to GDP," to result from future budget negotiations.
As you might recall, last year the Standard & Poor's rating agency issued a similar downgrade. However, the dollar remained resilient in the face of that news, so why would a similar action by Moody's carry more significance?...393 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.
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