Agrimonetary USCR update 23rd February 2012
23rd February 2012
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 WEAKENS AGAINST THE EURO - £8.29p/t INCREASE TO UK SUGAR PRICES FROM MONDAY 27th February <br /> </p><p>A short time ago the European Central Bank fixed the commercial market value of the €uro at £0.84810 creating a positive monetary gap against the current artificial "USCR" (£0.83055) of -1.872%, outside the +/- 1% threshold. Therefore,
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