Interim Agrimonetary Update 17th May 2010
17th May 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> </p><p> </p><p>Sterling weakens against the Euro – Potential price increase at the next review <br /> <br /> At lunchtime today the ECB fixed the commercial market value of the €uro at £0.8554 creating a negative monetary gap against the current artificial "USCR" (£0.8430) of -1.471%, outside the +/-1% change threshold. <br /> <br />
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