Source: ForexYard
Up against a safe haven U.S. dollar, the GBP is finishing a European session at a low point. The USD was unable to maintain gains against all of its counterparts on Tuesday, however, the Greenback did succeed in coming out on top of the Sterling.
While both the UK and the US received somewhat lackluster news in regards to CPI figures and retail sales, respectively, the GBP might have taken more of a hit from Moody’s Investor Service. The UK avoided being handed a downgrade but it did receive a warning from Moody’s that its AAA rating was in danger of being downgraded. After witnessing several euro zone countries being downgraded, including Italy, Portugal, and Spain, these warnings from Moody’s should not be taken lightly.
Forex Market Analysis provided by ForexYard.
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