Fitch places US on Rating Watch

USD/JPY has dipped to 98.00 after the announcement. No big surprise here, we had been warned that regardless of a debt deal, the US credit rating was likely to come under scrutiny. Be prepared for the other agencies to do something similar.

Next support is being reported near 97.80.

  1. Morning Sean, well we all just saw a dip based on credit rating worries and Mrs.Peloso’s speech, ok and appreantky tonight the House republicans are going to pass a Bill that the Senate Is going to not pass, so when that happens, if it does, with the deadline approaching will we even go lower then 97.8 possibly, and break 97.5? I think this might just go past the 17th as everything seems as a mess, and really as I read their first real big payment is due on Nov 15 for 30 bil, beofrenthat its like a 6 bil payment that they can easily make, but how will yhe market react to such a situation, passing Oct 17th, will it sink 1-2% or is some of the blow already built in?

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