The UK budget is a key step toward reversing the significant deterioration in the government’s fiscal position, the ratings agency says. It is supportive of the government’s AAA rating and stable outlook. The government’s net debt forecast of around 70% of GDP in 2013-14 is lower than Moody’s had envisaged, according to a statement.
Cable is bid to old boots, once again, at 1.4930.
Rumors of 1.5000 barriers are making the rounds while technical resistance lies in the 1.5055/65 area.
