US ratings agency Standard & Poors adding their own verdict 27 June
- downgrade also reflects risks of a marked deterioration external financing conditions
GBPUSD lower at 1.3180 as S&P join others in giving a thumbs down to Brexit.
Still remembering to sell those GBP rallies ? Excellent.
- Negative outlook reflects risk to economic prospects, fiscal and external
- cuts 2016-29 average GDP forecast to 1.1% yy vs 2.1% prev
- sees possible correction in UK housing market
- vote for Remain in Scotland and N Ireland also creates wider constitutional issues
What kept them so long to come up with that one ?