Dollar Falls as Moody’s Reviews US Credit Rating

The US dollar slid today, falling against the euro for the second day, as Moody’s Investor Service put the US credit rating on review for the first time since 1995.
Moody’s review the US rating on concerns that the nation wouldn’t be able to raise its debt ceiling in time to pay interest. US President Barack Obama and congressmen weren’t been able to achieve an agreement on reducing deficits and raising the $14.3 trillion federal debt limit so far. Federal Reserve Chairman Ben Bernanke will testify today, speaking before the Senate Banking Committee, after he spoke yesterday the House Financial Services Committee, signaling about possibility of additional stimulus.
EUR/USD climbed from 1.4163 to 1.4228 as of 9:05 GMT today after rising earlier to 1.4281.

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