Interesting little bit of news from S&P. According to ForexLive, the ratings agency warned that its level of public debt might eventually be incompatible with its much-desired AAA rating. So far there’s not too much more colour than that, except we know that the ratings agencies say this from time to time, even about the US, and there’s a big difference between saying this, and a formal lowering of the country’s outlook.
Nonetheless, the pound took a sharp move down on the news.
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