With sterling recently residing at its lowest levels in more than three decades, investors are wondering when the pound will rebound and if now, after FXB’s savage beating, is the time to consider nibbling at the ETF.
The pound has declined to a three-decade low for the past two days on increased evidence the Brexit vote is weighing on confidence in Britain’s economy, Bloomberg reports.
Related: As Bank of England Mulls Rate Cuts, More Pound Punishment Likely
“Ireland uses the euro, yet does about $45 billion of trade with the U.K. About 380,000 Irish citizens living in Britain were eligible to vote in the Brexit referendum. Britain also chipped in for Ireland’s bailout six years ago, despite not being part of the euro region,” according to Bloomberg.
iShares MSCI Ireland Capped ETF
