Fitch: Fiscal exit strategies key to sovereign “AAA” ratings

The US, UK, France , Spain, and Germany’s fiscal exit strategies are key to the outlooks for their AAA ratings, says Fitch, the credit ratings agency.

That seems self-evident, but so did not giving AAA ratings to subprime mortgages, but who are we to judge?

The dollar has firmed from session lows in early trade. GBP/USD has fallen close to its low for the week, trading now at 1.6148. 1.6110 is crucial support. Barriers are rumored at the 1.6100 level.