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Tuesday, December 13, 2011

Euro down & in-running madness on Betfair

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Well, the markets are not really buying this new Eurozone deal it seems and as some suspected, it’s really just another small plaster on an open wound. It gets them a little more time but it’s not a real solution to be honest and I’m not so sure a referendum would pass in countries like Ireland should it arise.  Where do we go from here? It’s hard to say. After a day of falling slowly yesterday, traders have taken a bearish view of the currency against the dollar and as I type, we are now down to the 1.30s. 

From memory, we haven’t traded this low since January and you’d have to wonder if it will continue to slide should it break into the 1.20s.

On Betfair, there was in-running madness, joy - and carnage for some at Catterick today:

The winner Dystonia’s Revenge traded at the maximum odds of 1000 (999-1) on Betfair; €36 matched at that price.
Runner-up Eighteen Carat (caught close home) traded at the minimum odds of 1.01 (1-100).
Quel Ballistic (hampered and unseated 2 out) traded at 1.11 (1-9).
Faller Corkage (8 lengths clear when falling 2 out) traded at 1.15 (1-7).
Third-place Definite Appeal traded at 1.48 (just over 4-9).

Wonder how many banks were boosted/busted on that one!

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