Currency fears haunt Irish business

This is panning out to be a very tricky year for Irish exporters, as slowing international economic growth is being laced with extreme currency movements, led by the British pound falling under the pressure of an EU referendum now scheduled for June 23.

However, not all of the sterling fall can be loaded onto UK prime minister David Cameron’s commitment to an in-or-out referendum on the EU, or his failure to get Boris Johnson inside the tent.

The unexpected under-performance of the UK economy since the start of 2016 and the Bank of England’s delaying tactics on interest rate increases and lukewarm promises on more quantitative easing to support economic growth have also taken their toll.