A strong euro against the dollar is creating a new headache for Irish exporters

Analysts also increasingly see the euro rallying toward $1.20 in the coming months

Between January and April this year, Irish exports have increased 51% to just over €111bn. However, this largely as a result of a €37.9bn, or a 170%, increase in exports to the US compared to the same period last year.

The strength of the euro against the dollar is an “extra cost” to Irish exporters on top of US tariffs, the head of the Irish Exporters Association has said as the bloc’s single currency hits a near four-year high.

The euro continued to gain against the dollar on Tuesday reaching over $1.18 which is the highest it has been since early September 2021. Only recently, in the middle of January was the dollar trading at near parity with the euro at $1.02.