Interim Agrimonetary USCR Report 23rd July 2012
23rd July 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 strengthens against the Euro - Price decrease if GBP/EUR stays at same levels</p><p>At lunchtime today the ECB fixed the commercial market value of the €uro at £0.77980 creating a gap against the current artificial "USCR" (£0.78880) of 1.118%, outside the +/-1% change threshold. <br /><br />If this level is repeated at Thursday's reference point
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