Dollar reels after S&P credit warning; bonds firm
S&P said there is at least a 1 in 2 chance it could cut the U.S.'s much prized "AAA" rating if a UGG Tasmina Sandals on raising the government's debt ceiling is not agreed soon. Earlier this week, Moody's warned of a possible downgrade.Ugg boots,Wholesale Ugg,Ugg Outlet;Ugg Outlet Store;UGG Bailey Button Boots;The euro hit an intraday high of nearly $1.42 versus the dollar after the S&P announcement before trimming some of its gains to settle back at $1.4160.UGG Coquette Slippers;UGG Infants Erin Boots;UGG Margot
Against the low-yielding yen, the greenback was trading at 79.04 yen, though some short-covering demand after this week's sharp drop and before the weekend is expected to lend strong support to the pair at around 78.50.UGG Gypsy Sandals;UGG Fluff Flip Flop Slipper;UGG Ascot Slippers;UGG Fluff Scuff Ii
U.S. Treasuries were relatively unperturbed by the move with ten-year Treasury note Oil painting reproductions holding their ground around 124-14/32. Yields on ten-year notes held around 2.96 percent.UGG Bags;UGG Classic Argyle Knit;UGG Classic Cardy Boots;UGG Classic Mini Boots;UGG Classic Short Boots
Stocks are expected to weaken after Federal Reserve Chairman Ben Bernanke deflated some expectations of more near-term stimulus for the struggling U.S. UGG Sundance Ii Boots.
Speaking to the Senate Banking Committee, Bernanke said it was not yet time for more stimulus, while warning a U.S. debt default would cause havoc on financial UGG Classic Tall Boots, and heavy cuts to government spending could derail a recovery in the world's largest economy.UGG Nightfall Boots;UGG Ultimate Bind Boots;UGG Ultra Short Boots;UGG Ultra Tall Boots 7.15sugary
Dollar reels after S&P credit warning; bonds firm
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