Another “No sh%& Sherlock” moment for the ratings agencies. S&P has cut its UK banking industry risk assessment citing deteriorating credit conditions and its belief that the UK is on the brink of recession. You can’t pay for that kind of timely analysis. What, you can? A lot? Who knew!
EUR/GBP is consolidating near record highs of 0.9292, no doubt bolstered by S&P’s timely analysis.
