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According to some of the early polls Donald Trump is narrowly ahead in some States so it looks like it could come down to the wire.
After falling one per cent yesterday the GBP/USD cross has spent the majority of the last twenty-four hours trading around $1.24 but it could all change over the course of today's trading session and the early hours of tomorrow morning.
GBP/USD graph
Investors are focusing all of their attention on the election race, which has been highlighted after this morning's positive UK Manufacturing Production figures did little to effect the GBP/USD exchange rate.
Markets seem to be wary over the potential result in the election and as we approach the final hours of voting we could see some big swings in the value of the dollar.
After the FBI cleared Clinton on Sunday of any wrong doing over the use of her private email, many anticipated she would easily win the vote to become the next President.
However, after the UK referendum result no one is taking anything for granted. A Trump victory would come has a huge surprise, with markets suggesting he has around a thirty per cent chance of winning.
But what if he does win?
As I mentioned yesterday, if Trump is victorious then I would expect to see the dollar drop in value. At this stage it is difficult to say by how much but we could easily see a few per cent wiped off the value of the dollar.
If that were to happen then we could see the GBP/USD cross push back over $1.26 by this time tomorrow.
Buying or selling dollars?
If you are looking to buy or sell dollars in the coming day and are worried about the impact the elections could have on your transfer, contact me today for a free, no-obligation currency consultation.
As a specialist in currency exchange, I have a wide range of tools at my disposal to help protect you against adverse market movements or target a rate of exchange that might not be currently available.
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