'Trump trade' and yields keep dollar supported

Quick Summary:

SINGAPORE: Cryptocurrency bitcoin hit a three-month high in early trading on Monday and the dollar looked set to extend its gains in markets counting down to the U.S.presidential election in two weeks.

"We expect this trend to continue straight into the election and if Trump wins, likely well after the election as well," Bechtel wrote.

Bitcoin got a lift from Trump's improving prospects since his administration is seen as taking a softer line on cryptocurrency regulation.It was last up 0.2% at $68,869 , off a peak of $69,487 that took its gains since Oct.10 to 18%.

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Category: EconomyBusiness

Markets: MalaysiaAustraliaChinaJapanSingapore

Topics: Markets Dollar Trade /Business/Business News Bitcoin Cryptocurrency Trump

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-10-21 @ 13:30:00 (3 hours ago)

News Timezone: GMT +8:00

News Source URL: thestar.com.my

Language: English

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