UK Rating Takes a Negative Blow

Currency Converter

Markets were caught unaware late yesterday as Fitch Ratings cut its outlook on UK’s “AAA” sovereign credit rating to “Negative” from “Stable”, citing multiple risks to the economy. The timing of the downgrade could not be worse considering yesterday’s downbeat domestic labour market report. This has indeed raised uncertainty about BoE action given the recent improvement in the housing market.

With little in terms of UK economic releases today, markets are expected to take cues from bond auctions in Spain and France, meeting of the IMF to approve the Greek loan and key economic releases in the US due later today.

Company Details

UK Rating Takes a Negative Blow

Get a quick quote

Open Account with Moneycorp

Moneycorp are located at:
The Zig Zag Building, 70 Victoria Street, Greater London, SW1E 6SQ, United Kingdom

Get a Quick Quote

Newsletter Signup to CMT

Sign up to our foreign exchange newsletter to receive news updates directly by email

Compare Money Transfer will not Share your details!

Bank Exchange Rates Comparison

High St Bank Exchange Rate

All Rights Reserved: Copyright 2006 - 2018 Compare Money Transfer Limited offering FCA Regulated Suppliers - 34 New House, 67-68 Hatton Garden, London, EC1N 8JY. +44 (0) 843 357 4882