UK (0)28 3026 3207 / ROI +44 (0)28 3026 3207

Pound drops 0.86% on Broadbent's comments, but Sterling manages a small comeback with positive UK employment data

12th July 2017

Yesterday the Pound dropped 0.86% on Broadbent's comments. Sterling has since made a slight recovery this morning on positive UK employment data, but the shake up has left us wondering what next for the Pound?

The Pound came under pressure yesterday as comments from Bank of England deputy governor, Ben Broadbent, failed to offer any hint of an interest rate increase. In fact Broadbent suggested that less EU trade could leave the economy hurting. Markets responded accordingly and cut the pound down to 1.1173. However Sterling has recovered slighly this morning to 1.1215 after positive UK employment data showed Unemployment had fallen by 64,000 to 4.5% (below the projected 4.6%). Despite the good news on record low unemployment levels, we were also told that inflation is still outstripping real wages so UK employees will be feeling a squeeze on their wallets in real terms.

So what next for the Pound? Markets will be watching the Pound closely for reactions to the second round of UK/ EU divorce talks next week.

"The Bureau Buttercrane provide a personal service that really sets them apart from other currency providers. If we need a fast transfer we know we can call or email and have confidence our business will be transacted straight away at the best available rates."

Travellers Secrets, Warrenpoint Co.Down

"We use Bureau Buttercrane for the best exchange rates, fast online transfers and great customer service. We wouldn’t hesitate to recommend Bureau Buttercrane as a first class currency exchange provider."

Fiveways Shop & Filling Station, Newry Co.Down.

"I always recommend Bureau Buttercrane for currency exchange, I have been changing money with them since 1995. They always provide the best exchange rates and the staff are helpful and friendly. An exceptional service every time!"

C.R. Morrow, Authorised Vauxhall & Hyundai dealer, Newry Co.Down

"Our favourite currency provider."

Bar One Racing, Dundalk Co.Louth

"As a firm that operates both sides of the Jurisdiction, we at Luke Curran Solicitors have no hesitation in recommending The Bureau, Buttercrane to our Clients, for a professional and efficient service. A truly trustworthy company to do business with and we can not recommend them highly enough."

Luke Curran and Co. Solicitors, Newry, Co.Down

"Great personal service with top class rates, we always exchange our currency with The Bureau Buttercrane."

Dalzell's, Markethill Co.Armagh.

"Great rates, friendly staff and a pleasure to do business with. That's why we wouldn't go any where else."

Milestone Supermarket, Rathfriland, Co.Down