Forex Flash: Obama second term remains a distinct possibility - ING (Barcelona) - Barack Obama and Mitt Romney clashed on foreign policy on Monday, during the third and last presidential debate before the elections. Although this is an area of strength for the incumbent, Rob Carnell from ING believes that this debate ended in a draw.

The expert still sees Obama in the lead “though with many of the swing states so closely contested, that this essentially remains an election too close to call.” His victory in the context of the fiscal cliff would be “dollar positive, treasury positive, risk negative.”

Rob Carnell also believes that Romney's victory, combined with an end of QE expansion, could have a similar outcome “though the timelines might well be somewhat different.”