Betfair, which already placed a giant octopus in the middle of Oxford Circus and caused traffic jams, has made another publicity stunt: it is paying out on existing gambles for a No vote on the Scottish referendum, albeit only on the specific “sportsbook†bets and not the wider “exchange†system.
Nevertheless, this move seems to be supporting the pound. Less than 48 hours before Scotland goes to the polls, the chances of a No vote seems to be more priced in. Or if you wish, the magnitude of the collapse of the pound in case of a Yes vote has risen.
Update:Â Scotland Referendum: Timetable for forex traders
Here is what the Scottish referendum odds are telling us for GBPUSD
And on a lighter note, here is how English comedian John Oliver explains the Scottish referendum and asks Scotland to stay:
GBP/USD is now trading around 1.6210, above the lows seen earlier in the day: 1.6161. For more, see the GBPUSD forecast.
