Sterling forecasts provide hope for Irish exporters

Irish firms exporting to the UK were given a glimmer of good news yesterday as Investec Ireland said sterling will strengthen again later this year as long as the UK votes to stay in the EU.

In new forecasts, the bank projects sterling will rise 73.5p against the euro by the end of the second quarter and firm slightly again, to 73p, by the end of September.

That compares with the rate of around 78p sterling was trading at yesterday.