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U.S. dollar drops on political uncertainty

Xinhua, November 2, 2016 Adjust font size:

The U.S. dollar declined against other major currencies on Tuesday on mounting uncertainties about next week's U.S. presidential election.

The greenback had been lingering at eight-month highs on market speculation for a rate-hike in December and Democratic presidential candidate Hillary Clinton winning the election.

However, the Federal Bureau of Investigation (FBI) announced a plan on Friday to probe newly-found emails related to Clinton, which has shaken investors' confidence in the outcome of Nov. 8 election.

Clinton's lead over her Republican counterpart, Donald Trump, has narrowed significantly since Friday's news broke, according to data from RealClearPolitics.

The dollar index, which tracks the greenback against six major peers, was down 0.77 percent to 97.685 in late trading on Tuesday, the lowest level in almost three weeks.

In late New York trading, the euro rose to 1.1059 dollars from 1.0977 dollars, and the British pound climbed to 1.2240 dollars from 1.2228 dollars. The Australian dollar increased to 0.7649 dollars from 0.7611 dollars.

The dollar bought 104.00 Japanese yen, lower than 104.88 yen in the previous session. The dollar inched down to 0.9745 Swiss francs from 0.9896 Swiss francs, and it dropped to 1.3385 Canadian dollars from 1.3406 Canadian dollars. Endit