Sterling at a two-year low against the dollar (1,5152) and a little over a year against the euro (1,1418). The collapse of the British currency is linked to the downgrade arrived last week by Moody's on British government bonds. For the moment, however, the downgrade has not affected the bond and equity markets, with bond yields barely moved and the FTSE 100 gaining more than half a point at the beginning of the afternoon.
Last Friday, Moody's cut its UK government bond rating from Aaa to Aa1, with a stable outlook. The downgrade on British bonds - the first after 35 years - is linked "to the continued weakness of the medium-term growth prospects of Great Britain", explained the American agency.
