CM: Forex: Dollar drops after US governments outloook's downgrade
FXstreet.com (Barcelona) - The Dollar is dropping sharply against its major rivals, weighed S&P revised US Government's outlook to "negative" which has triggered sharp upside reversals for Euro and Pound.
EUR/USD decline from last week highs at 1.4525 reached fresh 7-day lows at 1.4260, and the pair bounced up about 90 pips lower, reaching 1.4350.
GBP/USD retreat from 1.6385 extended on London session to 1.6230 low, and the pair surged more than 90 pips higher,reaching 1.6325 so far.
USD/JPY retreat from 85.50 high on early April extended below 82.65 to a fresh 3-week low at 82.50.
