Mohamed El Erian says Fitch downgrade of the US is a strange move, likely to be dismissed

<p>Mohamed El-Erian is chief economic advisor at Allianz SE. </p><p>Comments on the Fitch downgrade in a Tweet.</p><p>ICYMI:</p><ul><li><a href="https://www.forexlive.com/news/fitch-downgrades-usa-long-term-credit-rating-to-aa-from-aaa-20230801/" target="_self">Fitch downgrades USA long-term credit rating to AA+ from AAA</a></li><li><a href="https://www.forexlive.com/news/here-is-what-happened-in-markets-the-last-time-the-us-was-downgraded-stocks-fx-and-gold-20230801/" target="_self">Here is what happened in markets the last time the US was downgraded: Stocks, FX and gold</a></li><li><a href="https://www.forexlive.com/news/fitch-placed-usa-on-negative-watch-back-in-may-now-has-cut-the-us-rating-from-triple-a-20230801/" target="_self">Fitch placed USA on negative watch back in May, now has cut the US rating from triple A</a></li><li><a href="https://www.forexlive.com/news/eurusd-spiking-higher-usdjpy-lower-after-us-rating-downgrade-20230801/" target="_self">EUR/USD spiking higher, USD/JPY lower after US rating downgrade</a></li><li><a href="https://www.forexlive.com/news/us-equity-futures-have-dropped-hard-upon-reopening-after-the-downgrade-20230801/" target="_self">US equity futures have dropped, hard, upon reopening after the downgrade</a></li></ul><ul><li><a href="https://www.forexlive.com/news/senior-biden-admin-official-says-fitch-downgrade-of-the-usa-is-baseless-and-bizarre-20230801/" target="_self">Senior Biden admin official says Fitch downgrade of the USA is baseless and bizarre</a></li></ul>

This article was written by Eamonn Sheridan at www.forexlive.com.