Updated: The rumor that was running in the markets that credit rating agency S&P is set to downgrade the US and strip it from the perfect AAA rating i confirmed. The US now has a rating of AA+ according to Standard & Poor’s. The outlook is negative. This will have implications on the greenback. Before the close: US yields were higher, and the dollar is weaker, but there are other reasons for a weak dollar. Talk about a possible move by S&P appears on the twitter page of Ben White. H/T :FT Alphaville which mention the yields. Update 23:15 GMT: Major US TV networks update that the White House is preparing for downgrade by S&P. At this hour, all markets are closed. If an announcement comes later in the US night, there will still be enough time for the markets to digest it before they reopen. The announcement came. You can read it in full here. If this materializes, it won’t come as a big surprise, as S&P has warned about it, and even specified the conditions necessary to avoid it: a program to cut debt by 4 trillion dollars. The deal’s scope is only a little more than half of that. S&P later danced around their statement, and we are still waiting to hear their reaction about the debt deal. The main evident reason for the dollar’s fall is the news about Berlusconi accepting the ECB orders to bring forward austerity measures. In return, the ECB will buy some Italian bonds. This is one of the busiest days in the markets, in one of the busiest weeks – the positive Non-Farm Payrolls report plays only second fiddle to all the news today. Markets close at 16:00 Eastern Time, or 20:00 GMT. We’ll wait and see. Further reading: Do we listen to rating agencies? Yohay Elam Yohay Elam Yohay Elam: Founder, Writer and Editor I have been into forex trading for over 5 years, and I share the experience that I have and the knowledge that I've accumulated. After taking a short course about forex. Like many forex traders, I've earned a significant share of my knowledge the hard way. Macroeconomics, the impact of news on the ever-moving currency markets and trading psychology have always fascinated me. Before founding Forex Crunch, I've worked as a programmer in various hi-tech companies. I have a B. Sc. in Computer Science from Ben Gurion University. Given this background, forex software has a relatively bigger share in the posts. Yohay's Google Profile View All Post By Yohay Elam Forex News Today: Daily Trading News share Read Next Forex Articles for the Weekend – August 6 Yohay Elam 11 years Updated: The rumor that was running in the markets that credit rating agency S&P is set to downgrade the US and strip it from the perfect AAA rating i confirmed. The US now has a rating of AA+ according to Standard & Poor's. The outlook is negative. This will have implications on the greenback. Before the close: US yields were higher, and the dollar is weaker, but there are other reasons for a weak dollar. Talk about a possible move by S&P appears on the twitter page of Ben White. H/T :FT Alphaville which mention the yields. Update 23:15 GMT:… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.