Moody’s says its UK sovereign rating is stable and not under review

Moody’s has come out and said its UK sovereign rating is stable and not under review. Moody’s feel the UK has enough balance sheet flexibility to absorb short-term shocks. UK public finances face considerable challenges, but damage can be reversed over time.

Cable sits at 1.5635. Think the market is still trying to recover from the shock of whats gone on this morning. Numb’s probably a good word.

Fitch has also come out and said it’s UK triple A rating with stable outlook remains unchanged.