No panic at 81p, but Irish firms will be watching sterling

The headlines screamed of the sharpest one-day collapse for sterling in 30 years, but the Brexiters have so far been right on one thing: The sky didn’t fall in on Friday after English and Welsh voters decided the UK’s political future rests outside the EU.

Friday’s collapse in the value of sterling against the dollar was indeed breathtaking.

It reflected the errors of senior economists and their City of London investment bank employers in believing inaccurate opinion polls.