'Pound is stable' says Moody

The stabilisation followed Moody's comments from senior vice president Kristin Lindow that Britain's top two political parties - Labour and Tory, both understand the concepts involved in need to repair the country's public finances.

"We expect that any government elected would be ready to make adjustments to reduce the deficit" Kristin Lindow said.

"That's behind our stable outlook, despite the extreme deterioration on the fiscal front"