Interim Agrimonetary Report – Napier Brown
27th July 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 weakens a little against the Euro but still no USCR change on the cards </p><p>At lunchtime today the ECB fixed the commercial market value of the €uro at £0.8653 creating a negative monetary gap against the current artificial "USCR" (£0.8583) of -0.816%, just inside the +/-1% change threshold.</p><p>If this level is repeated at Thursday's
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