EUR/USD

US election: If you believe the bookies, an Obama win is all but assured

‘Follow the money’ the old saying goes and in this case the money is following President Obama to win tomorrow’s US election.

Some bookies are offering only 1/6 (bet 6 bucks to win 1) about an Obama win although William Hill are being more generous with the best price at 2/7, with 1/4 being the average price.

The average price about a Romney win is 3/1 (bet 1 buck to win 3).

I think a lot depends on where pairs like EUR/USD are trading when the results are announced as to what the effects will be; but if EUR/USD is trading near 1.2700 and Obama wins, then I think it likely that we’d see a rally back towards 1.3000 in that event.

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