The dollar and Asian stock markets rallied on Monday morning on the news the Federal Bureau of Investigation (FBI) had dropped its latest investigation into Hillary Clinton’s e-mails on Sunday night. The yen weakened to ¥104 sending Tokyo’s Nikkei 225 index up 1.5% and the Topix up 1.2% on Monday morning. The dollar gained 0.25% against the rand, taking the exchange rate to R13.57/$. Oil was also a beneficiary of an increased likelihood of Clinton beating Donald Trump in Tuesday’s US presidential election. Brent crude oil gained 1% to $46 a barrel in Singapore on Monday morning. The waning fear of a Trump victory saw gold lose 0.85% to $1,292/oz. On the London Metals Exchange, copper was 0.64% stronger and tin 1% stronger. The South African Reserve Bank is scheduled to release October’s foreign reserve figures on Monday at 8am. Reserves rose to $47.25bn in September from $45.71bn in August. Economists expect a slight rise in October.
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