The dollar steadied in Asia on Tuesday, keeping previous session gains as markets wagered on a victory for Hillary Clinton in the U.S. presidential election after the FBI cleared her of any wrongdoing in its latest probe of her use of a private email server. With hours to go before Americans vote, Democratic candidate Clinton has about a 90 percent chance of defeating Republican Donald Trump in the race for the White House, according to the final Reuters/Ipsos States of the Nation project. Federal Bureau of Investigation Director James Comey said in a letter to Congress on Sunday that the agency's review of newly discovered emails did not find anything to warrant any criminal charges against Clinton. The news prompted stock markets across the globe to rally on Monday, notching their biggest gains in weeks. Wall Street had closed lower for nine days in a row through Friday, its longest losing streak in more than 35 years. The U.S. dollar also perked up from its recent slump and gained against rivals. The greenback was steady against the perceived safe-haven yen at 104.44 , well above a one-month low of 102.54 yen plumbed on Thursday.
"I think most people are expecting Clinton to be the U.S. president, as shown by the jump in the stock markets," said Kaneo Ogino, director at foreign exchange research firm Global-info Co in Tokyo.
"The dollar/yen is firm, but on the upside, around 105 there are still some Japanese exporter orders," he said.
Finance Minister Taro Aso said on Tuesday that Japan would need to respond to currency market moves if results of the U.S. presidential election were to cause a sudden spike in the yen, when asked about market speculation that the safe-haven currency might spike on a Trump victory. Read More..
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