Irish exporters hit as sterling drops to new two-year low

Sterling looks set to remain under pressure on world markets, putting pressure on indigenous Irish exporters to the British market.

24th February, 2013
British chancellor of the exchequer George Osborne.

Sterling looks set to remain under pressure on world markets, putting pressure on indigenous Irish exporters to the British market, after Moody's dramatically decided to remove Britain's AAA credit rating this weekend. The news, announced late on Friday night, led to a late fall in sterling against the dollar and the euro on US markets.

Moody's cut Britain's rating from AAA to AA1 due to Britain's high and rising national debt burden and the poor...

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