US dollar gains strongly against euro

The US dollar has gained significantly against the value of the euro.

A report by the Bank of Ireland shows that, this month, the dollar put in its strongest one-day performance for eight years against the euro.

The dollar hit a five-month high against the euro and a 20-month peak against sterling.

Chief Economist with Bank of Ireland Dan McLaughlin has said the weakening of the euro against the dollar will be welcomed by Irish exporters.