The euro and pound exchange rates are declining rapidly

The exchange rates euro and pound sterling confidently go to new lows

In brief: The threats of defaults in the European Union, and another warning from Fitch became a problem for the euro and the exchange rate British currency.

United Kingdom: a warning from Fitch…The euro is suffering a new failure in domestic trading in the euro area. In the UK, declining exchange rate of pound. Today grows dollar rate only. New blow for the euro and the pound was a statement by Fitch. Last night, credit rating agency Fitch warned Britain that it faces “formidable financial challenge, and the budget approved by the previous government in April 2010, involves fast enough to reduce the deficit.

Extra credit rating of AAA Britain remains at the same level, but the rate of growth of public debt higher than that of other states in the same category, which makes Fitch fears. At the same time, Fitch noted a strong system of state institutions, a flexible economy and the financial stability of the UK. Statement by Fitch can not be called a surprise. On the need for deeper compared to the plans of the previous government fiscal correction, British Prime Minister David Cameron said earlier. The new government came to power in May, has already announced measures to reduce the cost of € 7.3 billion in 2010, a more detailed plan of the budget reductions will be published on June 22.

Ukrainian Globalist
2010-06-09 10:24, Currency news.

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