The dollar struggled to make headway on Wednesday after a cut on the U.S. government's top credit rating by Fitch raised questions about the country's fiscal outlook, though it drew some support from a relatively resilient run of economic data.
the United States to AA+ from AAA in a move that drew an angry response from the White House and surprised investors, coming despite the resolution two months ago of the debt ceiling crisis.
Sterling steadied at $1.27755, while the U.S. dollar index rose 0.07% to 102.07, having slipped broadly in the wake of the Fitch news. Elsewhere, the Japanese yen rose nearly 0.5% to 142.67 and looked set to reverse three straight sessions of losses, with traders still assessing the implications of the Bank of Japan's BOJ deputy governor Shinichi Uchida said on Wednesday that the central bank's decision wasmaking its massive stimulus more sustainable and not a prelude to an exit from ultra-low interest rates.
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