Monexnews-Sterling plummeting to the lowest position 7-month versus the Greenback as a new outbreak of speculation that the United Kingdom will soon lose their ' AAA ' credit rating. Worries about a recession, the prospect of further monetary easing and downgrade the credit rating risk United Kingdom continued to overshadow Sterling since the start of this year.
Investors will next focus fixed on the last meeting minutes to the Bank of England, which may give a signal about whether policy makers will continue to tolerate the high inflation and the weakening of Sterling resume willed.
"Although the impact is not very significant, rumors about the downgrade will still continue to overshadow the movement of Sterling," said Geoff Kendrick, a currency analyst with Nomura. Most analysts estimate the United Kingdom the possibility of credit rating downgrades would occur after Chancellor George Osborne presents his budget report in mid-March. (vid)
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