The U.K.'s AAA rating was a white elephant, writes Jim Leaviss, and Moody's has done the country...

|By:, SA News Editor

The U.K.'s AAA rating was a white elephant, writes Jim Leaviss, and Moody's has done the country a favor by eliminating it. Best of all, he says, the change came before the March budget, meaning the government - relieved of the AAA burden - can engage in a bit of fiscal stimulus. The FTSE +0.5%, but EWU - thanks to cheaper pounds (FXB) - is off 0.7%.