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United Kingdom - Exchange rates and relative prices

At the end of August the average EU reference price was 11 per cent lower than a year earlier in Euro terms but just four per cent lower in sterling terms. In recent months the UK premium over the average EU price has increased, averaging between 20 and 30p/kg for much of 2009.
5 October 2009
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At the end of August the average EU reference price was 11 per cent lower than a year earlier in Euro terms but just four per cent lower in sterling terms. In recent months the UK premium over the average EU price has increased, averaging between 20 and 30p/kg for much of 2009.

An important driver of the increased premium is clearly the weaker exchange rate and its impact on exchange rates. However there are many other factors which can influence the premium, such as supply trends in individual countries, demand trends, exports to non-EU countries.

http://www.bpex.org.uk/articles/299171/The_Impact_of_Exchange_Rates.aspx

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