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Random FX Volatility Characterises Early Returns in US Election
As polls in eastern states closed the FX market has seen some whippy price action, however according to dealers spreads remain reasonable. USD/MXN, widely seen as the bellwether of the election outcome, has whipped around, from 18.30 when polls closed it has hit a high of 18.44 and a low of 18.1650 and was, ironically, last trading at 18.30. “The market is keying on Florida,” an Asian-based trader tells Profit & Loss. “It looks tight but you can track the updates by the moves in USD/MXN.”

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