So says Allister Heath in The Telegraph

Businesses should do what they can to hedge exchange rate risk – but they should never moan about it, let alone lobby for the authorities to help them out. They should treat it like the weather, a variable they simply cannot control. The best policy when it comes to the currency is for the central bank to allow it to float freely

The services sector, which accounts for a growing share of UK exports, doesn’t seem especially sensitive to exchange rates. Manufacturing is more affected – but today’s most successful companies, including the Aga Rangemaster Group, which reported strong results on Friday, or the likes of Tata’s Jaguar Land Rover, specialise in upmarket, high-value added products and will therefore be able to shrug off minor currency fluctuations. They are certainly the way forward for British manufacturing

Worth a week-end read here