Economics and Finance: What will the British pound be worth after the election?
Another economics and finance bet here.
FX traders in the City are in much angst over the possiblity of a hung parliament. Simply said, traders don't like uncertainty. So, how much will the British pound be worth, in U.S. dollar terms, after the upcoming UK election? According to Google Finance, the pound closed today (9 April 2010) at US $1.5371.
The UK election is on Thursday, 6 May 2010. We will give the markets one full day to react to the election result. Therefore, for purposes of this bet, we will be looking at the closing price of the British pound on Friday, 7 May 2010, according to Google Finance.
This bet will remain open until the beginning of the 1st televised UK election debate on 15 April 2010; odds may be adjusted if there are any large market swings in the meantime.