Mexico's peso jumped on Sunday after the FBI announced it stood by a previous decision to not charge Democratic candidate Hillary Clinton over emails related to her private server, a decision that comes just two days before the election.
The peso, which has been hit by the rise of Republican candidate Donald Trump and his policies that are seen hurting Mexico's economy, rose as much 2.2%, but later pared gains to trade up 1.6% at 18.708 pesos per dollar.
In a letter to Congress on Sunday announcing the end of a review of newly discovered emails related to Clinton's private server, FBI Director James Comey said the agency had not changed its conclusions from July that no criminal charges were warranted against the presidential contender.
Comey informed Congress of the newly discovered emails more than a week ago, throwing the race for the White House into turmoil and eroding Clinton's lead over Republican candidate Donald Trump in the final stretch before Tuesday's vote.
With just two days to go until the Nov. 8 election, Comey's decision handed a major boost to Clinton, who has been accused of criminality by her rival Trump over her handling of government emails during her time as Secretary of State.
Trump has vowed to build a border wall between Mexico and the United States, threatened to rip up the North American Free Trade Agreement, block remittances back to Mexico and deport those living illegally in the United States.