Value of euro at risk of falling 10% by year-end

THE euro could fall in value by as much as 10% before the year-end as the eurozone economy lags behind recovery in the US and Britain.

That decline will help boost indigenous Irish exports that have under-performed relative to the multinational sector, said Alan McQuaid, economist of Bloxham Stockbrokers.

Mr McQuaid said the likely fall reflects ongoing weakness in the eurozone which Germany’s Bundesbank said was facing the risk of deflation.