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Mexico peso firms as FBI clears Clinton in email probe

On Sunday, two days before the U.S. vote, the FBI said it stood by its earlier finding that no criminal charges were warranted against Clinton for using a private email server for government work

Photo: Archive/El Universal
07/11/2016 |11:35Reuters |
Redacción El Universal
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The Mexican peso firmed to the strongest in one-and-a-half weeks as traders boosted bets on a Hillary Clinton victory in the U.S. presidential elections after the FBI said it would take no further action against her.

On Sunday, two days before the U.S. vote, the FBI said it stood by its earlier finding that no criminal charges were warranted against Clinton for using a private email server for government work.

Recent polls have showed a very tight battle with a slight lead for Clinton against Republican Donald Trump, who has promised to limit U.S. trade with neighbor Mexico.

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The Mexican peso strengthened 2 percent, eyeing its biggest daily gain since Sept. 27. The currency weakened during the last two weeks as surveys showed Trump gaining impetus in the race.

Other emerging market currencies followed the Mexican peso higher, with the Russian rouble snapping a three-day losing streak to strengthen 1 percent, also helped by higher crude oil futures.

Brazil's benchmark Bovespa stock index rose 2.3 percent. Gains were widespread, with all of the shares in the index rising.

Shares of Brazil's Gol Linhas Aéreas Inteligentes SA jumped 8.7 percent after airline company swung to a third-quarter net profit of 65.9 million reais (US$20.5 million) from a net loss a year ago.

Gol forecast a reduction of 8 percent in total capacity this year compared to previous estimates of between 5 percent and 8 percent.

Credit Suisse analysts said the change shows a commitment to cutting costs in Gol's local market even after strong earnings.