Moody's affirms Japan's A1 rating, maintains stable outlook

“Stable outlook on Japan reflects moody's view that japan's fundamental economic and institutional strengths will support the recovery,” said the global rating agency Moody’s in its latest rating update on early Friday.

In doing so, Moody’s keeps Japan’s A1 rating while also announcing a stable outlook.

USD/JPY extends south-run below 115.00

Given the coronavirus-led risk aversion in the full swing, coupled with fears of the Fed’s rate hike at the wrong time, USD/JPY drops below the 115.00 psychological level. That said, the yen pair is down 0.65% intraday around 114.65 by the press time.

Read: USD/JPY bears smash 115.00 as yields extend pullback