So far this Friday morning the exchange rate is 80/81c = £1, which is at the top end of where the rate has been so far this year. This makes Irish exports to the UK more expensive and less competitive.
For farmers in Northern Ireland, the medium-term issue will be the level of farm support from Westminster as opposed to Brussels when the exit is complete. Those in favour of exit, as plenty of Northern Ireland farmers were, believe that agriculture can secure as much support from Westminster as it could from Brussels, given that the UK will have a £10bn boost to exchequer funds through not having to make its EU contribution.
Ireland as well as the UK now move into uncertain territory but, given the mutual interest in trade between the EU and the UK, everyone will hope that a good mutually satisfactory working arrangement can be negotiated in the two-year window.