HGCA: Euro closes on Dollar
Tuesday, 09 January, 2001
The Euro strengthened to over US$0.95 on concerns about a potential slowdown in the US economy. This represents a 15% recovery on the late-October low of below $0.83.
The Euro, however, still remains 19% below its launch value of $1.18.
Meanwhile, MATIF old-crop wheat eased around
The EU continued to grant positive wheat refunds last week, awarding nearly 0.4m tonnes at a maximum refund of
The 21 December MANCOM also saw over 0.2m tonnes granted at a maximum refund of
The EU continues to grant free-market barley export licences only at zero refund.
The Commission opened a tender to resell 250,000 tonnes of French intervention wheat on to the EU interior market. The sale will begin this month and run to the end of February.
They also warned further sales could take place. Import duties were also revised on o1 January, 2001 for all grains, largely due to the stronger Euro.
1/t on pre-Christmas levels.8/t. 5/t. The move reflects the recent weakness of the dollar.
1 = 63.28p or 94.97US¢ on 08 January
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Taken from HGCA weekly MI Bulletin To contact the HGCA phone 020 7520 3972 Click here to visit the Home-Grown Cereals Authority |
