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Standard&Poor's has become the second major agency to cut its rating on South Africa's long-term sovereign debt to 'junk' with the third, Moody's, placing its own ratings under review for a possible downgrade.
Sterling gained slightly at the end of the week, helped by a degree of optimism surrounding the first phase of the Brexit negotiations with Brussels and somewhat increased doubts regarding the pace of monetary policy tightening in the States in 2018.
