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Dollar/yen extends rally as Clinton relief garners fresh bids
November 7, 2016 / 5:32 AM / a year ago

Dollar/yen extends rally as Clinton relief garners fresh bids

TOKYO, Nov 7 (Reuters) - The dollar extended its rally against the yen on Monday as risk aversion receded after news that Democrat Hillary Clinton would not face criminal charges related to her use of a private e-mail server gave the U.S. presidential contender an eleventh hour boost.

The greenback added to gains made earlier in Asia and rose more than 1.4 percent to 104.555 yen, its highest since Nov. 1, buoyed by fresh bids as the European markets entered the fray.

The dollar had fallen to 102.550 yen last week as polls showed a tightening U.S. presidential race.

Markets have tended to see Clinton as the status quo candidate, and news favoring her bid often boosts risk appetite, whereas the stance taken by her Republican rival Donald Trump on foreign policy, trade and immigration issues is seen as posing potential risks for global growth. (Reporting by the Tokyo markets team; Editing by Shri Navaratnam)

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