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Dollar Rises as FBI Finds No Evidence Against Clinton

November 7, 2016 at 16:04 by Yahia Barakah

A sheet of US 100-dollar bills up to the horizonThe US dollar gained on Monday after the currency declined for most of the previous week. The dollar’s rise comes after FBI Director James Comey told Congress that no evidence of criminal activity was found in the agency’s investigation against Democrat Hillary Clinton.

Traders speculate that Clinton has a better chance of winning the race for the White House following FBI’s announcement on Monday, which lifted pressure off the US currency that had a weekly drop after the FBI said last week that it will be investigating Clinton’s use of a private email server when she was secretary of state.

The falling gap between Hillary Clinton and Republican Donald Trump in recent polls is reflecting the uncertainty US voters feel just a single day before the presidential election, which is due to happen on November 8. The new announcement from the FBI is not the first in the probe that’s now closed. The agency said last July that Clinton was not found guilty of any wrongdoings in her email case.

A win for Democratic Clinton tomorrow would further boost the US dollar against other major currencies. The greenback will also be helped by the increasing probability of an interest rate raise by the Federal Reserve in December.

EUR/USD started the week today at 1.1063 before moving to trade at 1.1034 as of 17:43 GMT after touching 1.1030 at 17:39 GMT, the pair’s lowest level since November 1.

If you have any questions, comments, or opinions regarding the US Dollar, feel free to post them using the commentary form below.

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