US Dollar, Asian Stocks Rise as FBI Clears Clinton Again
- The US Dollar gained sharply on news that the FBI had again cleared Hilary Clinton of criminality in its email probe.
- Asian stock markets also took the news well, with big early gains for the ASX and Nikkei
- The reopening of the FBI’s investigation just last week roiled the Clinton campaign.
The US Dollar and US stock futures gained on Monday in Asia on news that the Federal Bureau of Investigation confirmed that Hilary Clinton committed no criminal acts in relation to a private email server.
The FBI reached a similar conclusion in July but opted to reopen its investigation just last week, roiling the Clinton election campaign with just days to go before the vote.
The agency now says it has found no evidence of criminality in a new batch of Clinton’s emails.
Director James Comey told Congress that his agency's review had found nothing to alter its original conclusion.
Reached in July, that conclusion was that Clinton had been careless but not criminal in handling sensitive material on her private email server when she was Secretary of State.
The US Dollar climbed over 1% against the Yen and the Swiss Franc after the story broke, with the overall Dollar Index – an average of the currency’s value against its major counterparts – climbing sharply. The Euro slipped by a similar amount against the greenback.
One exception to USD strength was the Mexican Peso. It rose nearly 2% against the US currency in Asian trade after the Clinton news broke.
Clinton is seen by markets as the “status quo” candidate for the US and the global economy, and more of a known quantity in office than rival Donald Trump.
Stock markets and stock futures also posted gains. Australia’s ASX benchmark rose 0.8% after the news, having been down 0.5% or so beforehand. The Nikkei started a new week with some vigor, too, rising 1.3%
S&P 500 index futures opened up by more than 1% in the US on Sunday.
USD Index jumps sharply on news that Hilary Clinton has again been cleared by the FBI
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