Sterling good news at last

THIS week’s 6½-month exchange rate high for sterling against the euro spelled encouraging news for Ireland’s food industry.

Sterling’s recent strong gains reflect a belief that the British economy is on the road to recovery and is set to out-perform the eurozone, with many predicting a return to growth by the end of the year.

Talk of the pound dropping to parity against the euro has evaporated – which would have spelled disaster for Ireland’s food industry.