Pound Heads for Weekly Gain as Home Prices Add to Growth Signs – Bloomberg 12-14-12

Salient to Investors:

Investors said the S&P lowered outlook for the UK’s credit-rating will have little impact. Stuart Thomson at Ignis Asset Mgmt doesn’t see the downgrade as significant for gilts – a move from AAA to AA+ has lost its impact, if it ever had any, and the impact on default is virtually meaningless.

Neil Jones at Mizuho Corporate Bank says the global economic outlook has improved and the pound will benefit – S&P’s decision just confirmed what the market already knew.

Royal Institution of Chartered Surveyors said UK home prices will increase 2 percent in 2013 versus a 1 percent gain in 2012.

Read the full article at http://www.bloomberg.com/news/2012-12-13/pound-declines-against-dollar-before-u-k-manufacturing-report.html