After the first results of the US elections were known, the dollar rose more than 2% against the euro, and bitcoin, the most used and well-known cryptocurrency on the market, rose more than 8%.
The dollar, yields on US government bonds, cryptocurrencies and futures on Wall Street rose sharply this Wednesday in light of Donald Trump’s expected victory in the US presidential elections.
After learning of the initial election results, the market has reacted positively, with futures on key Wall Street indicators expecting gains of more than 1%.
For its part, the dollar records its biggest intraday gain since March 2020, up more than 2% against the euro (the euro/dollar trades at $1.0711). Furthermore, the dollar is trading higher against almost all currencies in the world.
Another asset that positively welcomes Trump’s possible victory is bitcoin, the most used and well-known cryptocurrency on the market, which is skyrocketing by more than 8% and marking new all-time highs above $75,000.
On the contrary, the price of the benchmark ten-year US bond is falling sharply, while yields are rising above 4.42%, in a context where Trump’s proposed measures could increase pressure on prices and worsen debt prospects , according to experts.
In Europe, European futures are expecting a decline due to Trump’s expected victory, while the price of Brent crude oil, the benchmark price on the Old Continent, is currently down 2% to $74.04 on the possibility that the Republican increases production. of fossil energy such as oil and gas, which can reduce its price.
Source: EITB
I’m Wayne Wickman, a professional journalist and author for Today Times Live. My specialty is covering global news and current events, offering readers a unique perspective on the world’s most pressing issues. I’m passionate about storytelling and helping people stay informed on the goings-on of our planet.
