Pound Is Little Changed After Earlier Decline on Irish Concern

The pound was little changed versus the euro after falling for the first day in seven amid concern that Ireland’s debt crisis may spill over into Britain’s financial institutions.

A majority of global investors predict Ireland will default on its sovereign debt, a Bloomberg poll published today shows. Group of 20 leaders meeting in Seoul discussed Ireland’s debt crisis, which has weakened the euro on concern the European Union will need to step in with a bailout. Shares of Royal Bank of Scotland Group Plc, the U.K.-controlled lender that owns Ireland’s Ulster Bank, reached a four-month low yesterday.