Dollar Strengthens as Election Seen Swinging Toward Clinton
The dollar rose on Monday after the FBI decided that U.S. Democratic presidential nominee Hillary Clinton will not face criminal charges, which was seen as a boost to her chances of winning Tuesday’s contest with Republican rival Donald Trump.
The greenback gained 0.77 percent against a basket of currencies .DXY after getting hammered last week when FBI Director James Comey said the agency was looking at another large batch of Clinton emails, strengthening chances of a Trump victory, an outcome that was seen as likely to send shock waves through markets.
The Federal Bureau of Investigation said late Sunday it stood by its earlier finding that no criminal charges were warranted against Clinton for her email practices. The announcement sent the dollar surging against the yen JPY= and the euro EUR=, and offered relief to the Mexican peso MXN=.
“It’s all the election. It’s all the Comey letter,” said Joseph Trevisani, chief market strategist at Worldwide Markets in Woodcliff Lake, New Jersey, referring to the currency moves.
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