Yen falls sharply after S&P cuts outlook on Japan

TOKYO Jan 26 (Reuters) - The yen made sudden sharp falls against the dollar and the euro on Tuesday after Standard & Poor's said it had cut its outlook on Japan's AA long-term sovereign debt rating to negative from stable. [ID:nTKF106816]

The dollar rose to about 90.40 yen JPY= in a matter of minutes from about 89.65 yen and the euro jumped to about 127.30 yen from about 126.30 yen EURJPY=R before the news.