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View all search resultsThe US dollar traded close to a four-month peak versus major peers on Tuesday, while bitcoin extended its record rally as investors continued to pile into trades seen as benefiting from the incoming Donald Trump administration.
Asian equities fluctuated Thursday, while the dollar held gains and bitcoin hit a fresh record as markets try to ascertain the consequences of a second Donald Trump presidency after he pledged to cut taxes and ramp up tariffs with an eye on China.
The dollar slipped in Asia on Monday as investors braced for a potential pivot this week for the global economy as the United States chooses a new leader, and as it likely cuts interest rates again with major implications for bond yields.
Japan's yen fell to its lowest in nearly two months and other major currencies too were grappling with losses early on Monday as the dollar extended a rally sparked by Friday's strong US jobs data and an escalation in the Middle East conflict.
Bitcoin was the notable mover as it reached for one-month highs on Monday, sustaining its rally after the Federal Reserve's super-sized rate cut last week, while the yen extended its decline in markets thinned by a Japanese holiday.
The dollar on Friday slumped against the yen while gold hit an all-time peak as investors ratcheted up bets for a super-sized Federal Reserve interest rate cut next week after media reports suggested the decision was a tough one for officials.
The US dollar declined broadly on Monday and slipped sharply against the yen in particular as investors bet on a dovish tone emerging in the Federal Reserve's July policy meeting minutes and Chair Jerome Powell's upcoming speech at Jackson Hole.
The US dollar on the defensive on Thursday after the Federal Reserve opened the door for an interest rate cut in September, helping keep the yen pinned near its highest since March in the wake of a hawkish pivot from the Bank of Japan.
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