Mr Blanchflower says Uk’s manufacturing industry hasn’t benefitted from the fall in sterling, with firms being forced to cut jobs rather than take on more staff. Just makes you wonder how bad things might have been with a stronger pound!!!
The official says the Bank of England is right to use quantitative easing to try and boost the economy, but that its success will be dependent on global developments.
Meanwhile cable is struggling somewhat, presently down at 1.4465. Next technical support now lies at 1.4450.
