The Pound suffers huge losses after Standard and Poor’s cut UK outlook to negative.

[RTFX-Trading]

The Pound suffers huge losses after Standard and Poor’s cut UK outlook to negative.

The Pound is falling sharply, more than 1% against other majors. After trading as high as 1.5817 earlier this morning at 04h38 CET against the dollar, the pound sterling is in free fall. The pound also fell to 0.8850 against the euro, 1.7115 against the Swiss franc, 2.0220 against the Australian dollar and 147.25 against the yen.

Standard & Poors announced this morning that they cut its credit-rating outlook on the U.K. to negative from stable. This revision is based on the possibility that the public debt of the United Kingdom could approach 100% of gross domestic product!


Emman Xuereb
RTFX Ltd
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