Uncertain outlook for Irish firms amid currency moves

The great investor Warren Buffett once said: “Forecasts may tell you a great deal about the forecaster; they tell you nothing about the future.”

Going into 2015, the consensus in the currency market was that divergent monetary policies, namely ongoing accommodation from the ECB, with the Fed and BoE preparing to hike rates, would see the single currency continue to cede ground to the dollar and sterling.

Indeed, the euro would go on to fall from its 2014 high of $1.39 to a 12-year low of just under $1.05 in Q1 2015.