Pound is vulnerable after credit rating fall, warn former Tory chancellors

Kenneth Clarke and Lord Lawson predict longer-term problems for currency and economy after Moody's AAA rating downgrade Two former Conservative chancellors have issued grave warnings about the British economy as the government braced itself for the pound to slide following the loss of the UK's coveted AAA credit rating. Sterling is expected to fall against other key currencies as the financial markets respond to Moody's decision on Friday evening to cut the national credit rating, repeatedly use...