28.06.2016 - Fitch downgraded the rating of the UK

International rating agency Fitch downgraded the credit rating of the UK from "AA+" to "AA" with a negative outlook. The reason for this decision was the result of a referendum on Britain's membership in the European Union. We recall that nearly 52% supported the idea of the country's exit from the economic bloc. Uncertainty about how the country's economy will cope with such an event increases the fears of investors. In addition, the agency downgraded the forecast for GDP growth this year from 1.9% to 1.6% and in 2017 from 2.0% to 0.9%. We expect a continuation of the negative dynamics of the British pound with the downside potential to 1.3000 and 1.2600.

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