Agrimonetary USCR update 2nd December 2010
2nd December 2010
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 AGAINST THE EURO - HOWEVER NO PRICE CHANGE TO UK SUGAR PRICES FROM MONDAY 6TH DECEMBER </p><p>A short time ago the European Central Bank fixed the commercial market value of the €uro at £0.84450 creating a positive monetary gap against the current artificial "USCR" (£0.85220) of 0.904%, inside the +/- 1% threshold. Therefore,
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