The US dollar fell against most major rivals on Monday after the US credit rating downgrade.
Moody’s finally joined Standard & Poor and Fitch and downgraded the pristine US credit rating by one notch, pointing to the persistent US budget deficit and higher borrowing costs as reasons for concern.
US 30-year treasury yields rallied to 5% following the announcement, passing November 2023 highs.
Goldman Sachs released estimates that the chances of a US recession this year continue to persist.
Otherwise, the dollar index fell 0.7% as of 20:10 GMT to 100.4, with a session-high at 100.9, and a low at 100.06.
Aussie
The Australian dollar rose 0.7% against its US counterpart as of 20:24 GMT to $0.6452.
Loonie
The Canadian dollar rose 0.1% against its US counterpart as of 20:24 GMT to $0.7163.
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