Currency fluctuations having worst impact on farmers based in border counties
On July 1, the euro hit its highest value against sterling since March 2010 with €1 worth 90.5p.
But the exchange rate had moved 3.6% by August 5, with the euro having declined in value to 86.9p — a shift of more than 4%, attributed mainly to interest rates on sovereign debt climbing in Italy and Spain, two of the largest economies in the eurozone. With investors wary about investing in government debt in these struggling countries, the euro came under pressure.
