May’s summit will be watched by Irish firms

Whatever the outcome of England’s World Cup campaign, Irish business will be hoping that sterling wins on the currency markets.

Sterling has fallen to its lowest level in over six months and could be heading towards what is generally accepted as the pain threshold for Irish exporters: 90 pence against the euro.

Exports to the UK have already been affected — they have fallen by 7% over the four months for which data is available.