The Pound Sterling soared a stunning 7.1% this week - its greatest weekly gains since 1985 and the beginning of the Plaza Accord - but apparently that strengthening currency was not enough for Fitch who downgraded The United Kingdom's credit rating to AA-. The downgrade reflects a significant weakening of the UK's public finances caused by the impact of the COVID-19 outbreak and a fiscal loosening stance that was instigated before the scale of the crisis became apparent. The downgrade also reflects the deep near-term damage to the UK economy caused by the coronavirus outbreak and the lingering uncertainty regarding ... (full story)