(Bloomberg) -- The yen reversed declines against the dollar and the euro after Standard & Poor's raised its debt rating for Japan on government efforts to balance the budget.
The yen gained against 14 of the 16 most-active currencies after S&P lifted Japan's rating one level to AA from AA-, the first increase by the company since 1975. Optimism about the Japanese economy may make it easier for the Bank of Japan to raise interest rates.
Read more at Bloomberg Bonds News
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