The Great Britain pound fell against the US dollar, though held versus the Japanese yen, after inflation slowed last month and Moody’s said that the nation’s credit rating is in danger of downgrade.

Britain’s annual inflation was 3.6 percent in January, matching forecasts, while it was 4.2 percent in the previous month. Moody’s Investor Service left the UK lending grade unchanged yesterday, but changed outlook to negative. Some analysts said that it’s not a reason to sell British assets and the sterling rebounded against the yen on such thinking, but remained down versus the dollar.

GBP/USD was down from 1.5764 to 1.5724 as of 12:45 GMT today, while the daily minimum was 1.5685. At the same time, GBP/JPY climbed from 122.29 to 122.90, rebounding from the intraday low of 121.67.

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