The USD/JPY pair dropped early Thursday as the greenback fell against most of its major counterparts in a correctional movement after its strong performance the day before.
The U.S. stock market dropped after the rating agency Fitch warned the banking sector in United States of a possible downgrade due to the EU debt crisis infection.
Investors increased demand for the US dollar as a safe haven which drove it to record its highest level in five weeks against the euro, before it retreated early Thursday.
The weakening dollar open the way for the Japanese yen to record more gains, and drove the USD/JPY pair to its lower end of its trading range.
The United States will end the week at 15:00 GMT with the Leading Indicators for October which are expected to improve to 0.5% from 0.2%.
Originally posted here
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