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Fitch: UK Risk the Greatest!
By Mike Conlon | November 10, 2009
Yesterday, the ratings agency Fitch warned that the UK’s sovereign credit rating is most at risk of being downgraded amongst all of the other top-rated economies. Barclays is calling this a buying opportunity after the initial sell-off occurred.
“Fitch stressed after the statement that there were no plans to change the U.K. rating. Other news has been more positive”
It’s amazing to me that investors actually still listen to these ratings agencies. I don’t trust the ratings agencies as far as I can throw ‘em. I did a video blog about them which you can see here.
In the meantime, the British pound (GBP) is off slightly across the board in what can be viewed as a minor move in light of the news surrounding it. It appears that someone is trying to slow down the strengthening of the pound. The fact that Fitch has a strong UK presence didn’t escape my attention.
To learn more about how credit ratings can affect a country’s currency, be sure to check out our courses!
Tags: blog, British, course, currenc, currency, dow, fx, fxedu, gbp, Il, invest, investor, Mike Conlon, mywealth, news, pound, rate, time, U.K., video
Topics: What To Look At In The Market | 1 Comment »
November 11th, 2009 at 3:31 am
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