Pressure eases on Irish firms as Brexit risk recedes

Sterling rose for the sixth day in a row yesterday — relieving pressure on many Irish firms who rely on exporting into Britain — as bookies hiked the chances of the Britain voting to stay in the EU after US President Barack Obama warned about the economic consequences of Britain leaving.

Paddy Power said the probability of the UK staying in had surged to 73% yesterday, up from 69% on Thursday, the highest level for the ‘in’ side since the campaign got under way in earnest in recent weeks.

A Paddy Power spokesman cited missteps by London mayor Boris Johnson — the leading political proponent for Britain to leave the EU — to explain the increased chances of the UK rejecting a Brexit.