Pound Calm as Markets Wait for Outcome of US Elections

The Great Britain pound was flat against some of its peers while logging small gains against others during Asian trading hours. The currency’s moves were very limited as markets lay in wait for the outcome of the US presidential elections.

According to the latest polls, Hillary Clinton is in the lead of the presidential race. Still, there is still a high degree of uncertainty about the outcome, especially considering that Hillary’s chief competitor, Donald Trump, claimed that polls were purposely wrong and launched a lawsuit against alleged fraud in Nevada voting.

Over the longer term, the question of the Brexit remains a very important factor to the sterling. While Britain’s High Court ruled that the nation’s parliament should have a say in the matter of Britain’s exit from the European Union, the government may yet appeal to the Supreme Court. The appeal can be filed between December 5 and 8, but the final ruling is not likely to happen until after the New Year.

GBP/USD traded at 1.2398 as of 00:10 GMT today after opening at 1.2378. EUR/GBP was at about 0.8896 after it opened at 0.8903. GBP/CHF traded near 1.2117, not far from the open of 1.2100.

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