The value of the British pound has risen to its highest level since Christmas, offering Irish exporters to the UK some respite from the Brexit-related currency shocks of the past few months.
The value of the pound sterling is at its highest so far this year.
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The sterling exchange rate rose to the £0.84 mark against the euro in early trading this Wednesday morning, before easing slightly to £0.844.
This is the highest value recorded for the pound so far this year, bringing the exchange rate back in line with December levels. The British currency fell to £0.88 against the euro last month after prime minister Theresa May’s Brexit speech pointed towards a hard break from the EU.
The value of the pound remains around 6% lower than it was before last June’s Brexit referendum, posing an equivalent price challenge to the exporters shipping 37% of Ireland’s food and drink exports to the UK.
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The sterling exchange rate rose to the £0.84 mark against the euro in early trading this Wednesday morning, before easing slightly to £0.844.
This is the highest value recorded for the pound so far this year, bringing the exchange rate back in line with December levels. The British currency fell to £0.88 against the euro last month after prime minister Theresa May’s Brexit speech pointed towards a hard break from the EU.
The value of the pound remains around 6% lower than it was before last June’s Brexit referendum, posing an equivalent price challenge to the exporters shipping 37% of Ireland’s food and drink exports to the UK.
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