Sterling falls, bruised by UK credit rating downgrade

Sterling fell to its weakest since July 2011 against a basket of major currencies on Monday, the first trading day after Moody’s stripped the UK of its triple-A credit rating. “Investors will remain nervous about the pound,” said Ian Gunner, portfolio manager at Altana Hard Currency Fund. “Monetary policy will now be more significant and the minutes last week showed more easing could be on the way.”

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