Bank of Ireland: Sterling set to climb again

Bank of Ireland has increased its outlook for the economy, saying that the country will weather any currency shocks from abroad.

The recent slump in sterling against the euro, amid fears about the UK leaving the EU and delayed British interest rate hikes, has significantly eroded advantages for Irish exporters.

But Bank of Ireland forecasts that sterling will strengthen again substantially, to reach 70 pence by the end of the year, and up from around 77.5 pence currently.