THE pound traded over 2.64 marks for the first time in several years while continuing to fall slightly against sterling.

The pound closed at 2.6382 marks before rising to 2.6410 in late trading from 2.6387 a day earlier. At the same time it fell to 97.58p against sterling from 97.71p a day earlier.

The continued move higher against sterling is putting many exporters under pressure, warned Mr Colum MacDonnell (CHK SPELL) of the Irish Exporters Association. Many are facing a cut in their profits of up to 10 per cent, he said.

There were signs of large amounts of selling of the pound yesterday, but reports of intervention could not be confirmed.