“When I place a bet on my spread betting account I must choose the currency I want the position in. So I assume when going long on a commodity for example I should pick a currency I expect to devalue the most e.g. Euro and not AUD? My account is in Euro.

“This is something I have only considered when the option arises as I am placing the bet but I assume it should get more thought since this is half the bet? ”

Eoin Treacy's view Thank you for this question which may also be of interest to others. Some spread-bet firms offer the opportunity to pick the currency of settlement. This has no bearing on the outcome of your bet, as it will still depend on the number of points moved. As a Euro denominated investor this allows you the ability to deal in Euro rather than Pounds. However if your domestic currency is Pounds and you will eventually withdraw Pounds from your account, there is no compelling reason to denominate your trade in another currency. If you wish to express a view on a currency pair I suggest it would make more sense to open a separate position.