Moody's upgrades UK banking system outlook

FXstreet.com (Barcelona) - Moody's Investors Service announced on Wednesday its decision to change the outlook for the UK banking system from stable to negative.

According to the official release: “Although the UK continues to face the prospect of low medium-term economic growth, Moody's does not expect a deterioration in the operating environment. Moreover, unemployment has not increased as much as in previous recessions, thereby contributing to a stabilisation in banks' asset quality.”

GBP/USD was unmoved by the news, remaining at 1.4895 following the announcement.