Brexit fears ease but Irish factories under cloud

Sterling rose almost 1% against the euro yesterday as a survey of British factories suggested the UK was not heading into a steep slump in the wake of the UK vote to quit the EU after all.

The rise of the pound is welcome news to the many big and small Irish exporters and the many thousands of jobs they support because it makes it more competitive to sell goods and services across the Irish Sea.

Sterling has, however, still declined by about 10% to 84.2p against the euro from 76.7p on the eve of the UK’s June 23 referendum.