Standard and Poor's Raises Credit Outlook For US Economy

Moody's and Fitch not revising their ratings

Rating agency Standard and Poor's has raised its credit outlook for the US economy from negative to stable.

In August 2011, S&P downgraded the US rating one notch from AAA to AA+, but now believes further downgrades are less likely as the economy continues to recover.

The news saw the US dollar strengthen 1.3% against the Japanese yen, and 0.2% against the euro.

But S&P is still concerned about the high levels of US debt.