Interim Agrimonetary Update 16th November 2009
16th November 2009
The USCR is the “Unofficial Sugar Conversion Rate” between UK Pounds and Euros. The USCR has the potential to change every 14 days depending on the value of Sterling against the Euro and if at 1.30pm every second Thursday that value is more than 1% different (+ or -) compared to the previous fortnight.
<p>Sterling strengthens slightly against the Euro but no price change on the cards </p><p> </p><p>At lunchtime today the ECB fixed the commercial market value of the €uro at £0.89485 creating a positive monetary gap against the current artificial "USCR" </p><p>(£0.8953) of 0.05%, inside the +/-1% change threshold. </p><p> </p><p>If this level is repeated at Thursday's reference point
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