Post Tagged with: "fitch"
Irish Sovereign Downgraded by Fitch
Credit rating agency Fitch downgraded Ireland’s score to BBB+. Needless to say, this came as no surprise. Credit rating agencies such as S&P, Moody’s and Fitch are always late. The real credit rating is better reflected in CDS – Credit Default Swaps. It’s no news that the Irish sovereign is having trouble, due to its
British Trade Balance – Another Weight on the Pound
British trade balance disappointed for a second month in a row, with a deficit of 7.3 billion pounds, higher than predicted. This joins other bad news that the Pound receives this week, indicating that last week’s rally was only a one-time event. GBP/USD is trading slightly lower than before the release, at 1.4440, and the
The Pound is hiring
Fresh employment figures in Britain showed that the unemployment rate is falling and that the rise in the number of claims is falling. The British Pound reacts with a cautious rise, still overshadowed by Fitch. What’s next for the Pound? Update 11:00 GMT: Mervyn King is talking about a “Clear Need For Credible Fiscal Reduction