Dollar touches one-week low as safety bid, 'Trump trade' momentum ebb

Quick Summary:

TOKYO: The U.S.dollar slipped to a one-week low versus major peers on Wednesday, looking to extend a three-day decline from a one-week peak as the market catches its breath following the frantic rally in the wake of Donald Trump's election.

BoE Governor Andrew Bailey told parliament on Tuesday that the central bank needs to take a "gradual approach" to easing.Bitcoin rose 0.4% to $92,593 after reaching a record $94,078.22 late on Tuesday.

"The 'Trump Trade' that boosted the greenback is facing challenges from Trump's controversial cabinet nominations and the escalation in the Russian-Ukraine war," DBS strategists wrote in a client note.

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Category: EconomyBusiness

Markets: MalaysiaUkraine

Topics: Crypto Inflation US dollar /Business/Business News Bitcoin Forex Trump Trade Donald Trump

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-11-20 @ 15:24:00 (4 hours ago)

News Timezone: GMT +8:00

News Source URL: thestar.com.my

Language: English

Article Length: 555 words

Reading Time: 4 minutes read

Sentences: 16 lines

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Copyright Owner: © The Star

News ID: 23716010

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