
So far so bad, but it may be about to get a lot worse. With the euro hitting an all time high of $1.51 against the dollar yesterday, Irish and other eurozone exporters are going to be under more pressure to reduce their export prices.
But with consumer spending power weakening in Ireland as inflation and interest rates erode modest pay rises, there may be less room for Irish exporters to make up for reduced margins overseas through higher margins at home.
Things may be about to get even tougher for Irish exporters than they realise.
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