The dollar surged and US equities rallied on the last full day of campaigning yesterday as investors grew more confident of a Hillary Clinton victory despite polls that showed her with only the narrowest of leads over Republican rival Donald Trump.
The rally came at the end of a ferocious race that has deeply divided the US and alarmed its allies as Mr Trump stirred up raw populist sentiments and Mrs Clinton campaigned under the shadow of a federal investigation.
Financial markets were buoyed by the FBI’s announcement on Sunday that it would not change its recommendation against prosecuting Mrs Clinton for improperly using a personal email server while secretary of state. That sent the dollar up nearly 1 per cent against the euro. The S&P 500 was set to end a nine-day losing streak — its longest since 1980.