The Mexican peso is surging

Mexican peso is surging.

The currency is up by 1.9% at 18.6516 per dollar as of 7:51 a.m. ET.

The peso took off in early Monday trade after FBI Director James Comey informed Congress on Sunday that a review of new emails found in relation to the bureau’s investigation into Clinton’s use of a private email server had not yielded any reason for charges against the Democratic presidential nominee.

Given that Republican candidate Donald Trump’s anti-trade platformcould have negative repercussions for the Mexican economy, the currency has become something of a gauge of his prospects over the past couple of months of the campaign.

The peso has zigzagged around last week, swinging on various poll results. 

As for the rest of the world, here’s the scoreboard as of 7:54 a.m. ET:

  • The US dollar index also strengthened after Comey’s announcement, and is up by 0.6% at 97.60. Separately, it’s a quiet day for data, with consumer credit out at 3 p.m. ET.
  • The Japanese yen is down by 1.2% at 104.33 per dollar. Separately, the latest data showed that labour cash earnings rose by 0.2% year-over-year in September, following a stagnant reading in August. “The upshot is that the tight labour market has yet to generate noticeable cost pressures,” wrote Marcel Thieliant, senior Japan economist at Capital Economics, in a note.
  • The British pound is down by 0.7% at 1.2424 against the dollar. Separately, the latest Halifax House Price Index came in at 5.2% year-over-year in October, above expectations of 4.8%. 
  • The euro is down by 0.7% at 1.1063 against the dollar. Data showed that retail sales fell by 0.2% month-over-month in September, better than the estimated drop of 0.3%. 
  • The Russian ruble is down by 0.4% at 63.8264 per dollar, while Brent crude oil is up by 1.0% at $46.06 per barrel.

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