The daily business briefing: November 7, 2016

Dollar rises after FBI clears Clinton over new emails, Philadelphia transit strike ends in time for election, and more

FBI director James Comey at a press conference
(Image credit: Getty Images)

1. Dollar gains as FBI clears Clinton over latest emails

The dollar rallied early Monday, gaining more than 1 percent against the Japanese yen after the FBI said its review of newly discovered emails potentially linked to Hillary Clinton's private email server did not change its conclusion that no charges were justified over her handling of government secrets. Comey's announcement that the emails had been uncovered sparked turmoil in the presidential race days ahead of Tuesday's election. The development dragged down markets as investors factored in a greater chance that Clinton, a familiar figure, might lose to her Republican rival Donald Trump, who represents uncertainty for global markets. The Mexican peso, which has fluctuated in the reverse direction of Trump's fortunes, also jumped.

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Harold Maass, The Week US

Harold Maass is a contributing editor at The Week. He has been writing for The Week since the 2001 debut of the U.S. print edition and served as editor of TheWeek.com when it launched in 2008. Harold started his career as a newspaper reporter in South Florida and Haiti. He has previously worked for a variety of news outlets, including The Miami Herald, ABC News and Fox News, and for several years wrote a daily roundup of financial news for The Week and Yahoo Finance.