Things are looking good for Irish exporters
According to most standard metrics, sterling trades between 10% - 15% below its fair value, and the outlook is increasingly constructive
Since the beginning of the year, Irish exporters have enjoyed a windfall in the form of benign currency movements. The two most important currencies for Irish exporters, the US dollar (USD) and sterling (GBP) have both appreciated against the euro (EUR). As regular readers of this column will know, I have maintained a constructive view on sterling for most of the year.
This constructive view reflects sterling’s incredibly cheap valuation profile. According to the standard...
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