We have seen a remarkable turn around in the bookies prices for the UK election on May 6. The Liberal Democrats not even in the picture before Thursdays televised political debate has caused the market to swing heavily in favour of a hung parliament whilst the chances of a conservative majority have gone in the opposite direction. The market feels that a hung parliament would be the worst of both worlds and as such GBP remains on the nose. GBP/USD is down over a big figure from its Sydney open (1.5351); last at 1.5232.