Fitch Ratings places UK on negative watch

The Fitch ratings agency has placed the UK on a negative ratings watch, causing sterling to fall sharply.

A "negative ratings watch" means that the country is on review for a potential credit downgrade.

It lost its top AAA credit rating by another ratings agency, Moody's, last month.


UK on credit downgrade review

The Fitch credit rating agency has put the UK on negative rating watch, meaning it is on review for a potential downgrade, because of the Chancellor's worsening debt forecasts. It comes after Moody's downgraded the country's top AAA rating last month