Forex Flash: GBP unaffected by Fitch rating cut - UBS

FXstreet.com (Córdoba) - On Friday, the rating agency Fitch cut the UK's sovereign rating by one notch from AAA to AA+, while changing the outlook to stable from negative. Moody's did the same move about two months ago.

"This move was widely expected and did not move the currency", says the UBS analyst team. "Overall, the pound has been the strongest G10 currency on Monday, despite the downgrade".