Analysts: Exporters face sterling slump to 90p

Sterling will slump to 90 pence against the euro in the coming months in the wake of the Brexit vote, putting pressure on Irish firms exporting to Britain, leading analysts have predicted.

A weak sterling against the euro harms the profits and jobs prospects of Irish firms who rely on the UK market because an appreciating euro instantly erodes price competitiveness of many firms.

The currency forecasts come as sterling fell sharply for a second trading day amid a sell-off of assets exposed to the UK.