UK credit rating outlook stabilizes
Sterling had a poor start to the week on concerns over further Quantitative Easing that were hanging over the pound following last week's relatively negative Bank of England minutes. This saw sterling hit a seven month low of €1.1184/£1 against the euro on Monday. However, Tuesday's GDP figures of 0.8% beat expectations and the UK credit rating outlook upgraded to "stable" from "negative" following spending review.
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