{"id":122792,"date":"2024-11-06T18:13:49","date_gmt":"2024-11-06T11:13:49","guid":{"rendered":"https:\/\/hotvideos24.online\/?p=122792"},"modified":"2024-11-06T18:13:49","modified_gmt":"2024-11-06T11:13:49","slug":"dollar-and-bitcoin-soar-as-trump-wins-presidency","status":"publish","type":"post","link":"https:\/\/hotvideos24.online\/?p=122792","title":{"rendered":"Dollar and Bitcoin soar as Trump wins presidency"},"content":{"rendered":"<p> <script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-3711241968723425\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-format=\"fluid\"\r\n     data-ad-layout-key=\"-fb+5w+4e-db+86\"\r\n     data-ad-client=\"ca-pub-3711241968723425\"\r\n     data-ad-slot=\"7910942971\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><br \/>\n<\/p>\n<div data-component=\"text-block\">\n<p class=\"sc-eb7bd5f6-0 fYAfXe\">The US dollar has surged as Donald Trump is now projected to have won the presidency and will re-enter the White House.<!-- --><\/p>\n<p class=\"sc-eb7bd5f6-0 fYAfXe\">Bitcoin has also hit a record high while traders bet on potential tax cuts, increased tariffs, and rising inflation under Trump&#8217;s second term.<!-- --><\/p>\n<p class=\"sc-eb7bd5f6-0 fYAfXe\">This election result will have a major impact on the global economy.<!-- --><\/p>\n<p class=\"sc-eb7bd5f6-0 fYAfXe\">The Republican Party is also set to take control of the Senate, although there are still votes left to count.<!-- --><\/p>\n<\/div>\n<div data-component=\"text-block\">\n<p class=\"sc-eb7bd5f6-0 fYAfXe\">The dollar has soared by about 1.5% against a host of different currencies, including the pound, euro and the Japanese yen.<!-- --><\/p>\n<p class=\"sc-eb7bd5f6-0 fYAfXe\">In Japan, the benchmark Nikkei 225 stock index ended the session up by 2.6%, while Australia&#8217;s ASX 200 closed 0.8% higher.<!-- --><\/p>\n<p class=\"sc-eb7bd5f6-0 fYAfXe\">The major US stock indexes also look likely to open sharply higher. That came after the Dow Jones Industrial Average, S&amp;P 500 and Nasdaq all closed more than 1% higher on Tuesday.<!-- --><\/p>\n<\/div>\n<div data-component=\"text-block\">\n<p class=\"sc-eb7bd5f6-0 fYAfXe\">Trump has pledged to make the US the &#8220;bitcoin and cryptocurrency capital of the world&#8221;.<!-- --><\/p>\n<p class=\"sc-eb7bd5f6-0 fYAfXe\">The value of Bitcoin has also jumped by $6,000 (\u00a34,645) to a record high of $75,371.69, surpassing the previous high of $73,797.98 seen in March this year.<!-- --><\/p>\n<p class=\"sc-eb7bd5f6-0 fYAfXe\">Trump has previously said he plans to put billionaire Elon Musk in charge of an audit of governmental waste.<!-- --><\/p>\n<p class=\"sc-eb7bd5f6-0 fYAfXe\">Mr Musk has long been a proponent of cryptocurrencies and his company Tesla famously <!-- --><a target=\"_self\" href=\"https:\/\/www.bbc.co.uk\/news\/business-55939972#:~:text=Elon%20Musk's%20car%20firm%20Tesla,to%20%2444%2C220%2C%20a%20record%20high.\" class=\"sc-c9299ecf-0 bZUiKB\" rel=\"noopener\">invested $1.5bn in Bitcoin in 2021<!-- --><\/a>, although the price of the digital currency can be very volatile.<!-- --><\/p>\n<p class=\"sc-eb7bd5f6-0 fYAfXe\">Tesla&#8217;s Frankfurt-listed shares rallied over 14% at the open on Wednesday. Mr Musk, Tesla&#8217;s top shareholder, has supported Trump throughout his electoral campaign.<!-- --><\/p>\n<\/div>\n<div data-component=\"text-block\">\n<p class=\"sc-eb7bd5f6-0 fYAfXe\">Experts are, however, predicting a turbulent day elsewhere on financial markets as a response to global uncertainty and Trump&#8217;s potential plans for the economy.<!-- --><\/p>\n<p class=\"sc-eb7bd5f6-0 fYAfXe\">&#8220;Many of his measures will be inflationary and likely to lead to a rise in bond yields, putting pressure on the Federal Reserve in its quest to bring interest rates down,&#8221; said Lindsay James, investment strategist at Quilter Investors.<!-- --><\/p>\n<p class=\"sc-eb7bd5f6-0 fYAfXe\">Donald Trump previously said he would dramatically increase trade tariffs, especially on China, if he became the next US president.<!-- --><\/p>\n<p class=\"sc-eb7bd5f6-0 fYAfXe\">&#8220;Trump\u2019s global trade policies are causing particular angst in Asia, given the strong protectionist platform on which more aggressive tariffs on imports into the US have been pledged,&#8221; said Katrina Ell, director of economic research at Moody&#8217;s Analytics.<!-- --><\/p>\n<p class=\"sc-eb7bd5f6-0 fYAfXe\">Trump&#8217;s more isolationist stance on foreign policy has also raised questions about his willingness to defend Taiwan against potential aggression from China.<!-- --><\/p>\n<p class=\"sc-eb7bd5f6-0 fYAfXe\">The self-ruling island is a major producer of computer chips, which are crucial to the technology that drives the global economy.<!-- --><\/p>\n<p class=\"sc-eb7bd5f6-0 fYAfXe\">In mainland China, the Shanghai Composite Index ended the day down 0.1%, while Hong Kong&#8217;s Hang Seng was down by around 2.23%.<!-- --><\/p>\n<p class=\"sc-eb7bd5f6-0 fYAfXe\">Trump&#8217;s tax-cutting agenda has been broadly welcomed by large corporates in the US.<!-- --><\/p>\n<p class=\"sc-eb7bd5f6-0 fYAfXe\">&#8220;We should see pro-business policies and tax cuts, in turn possibly driving up inflation and less rate cuts,&#8221; said Jun Bei Liu, portfolio manager at Tribeca Investment Partners.<!-- --><\/p>\n<p class=\"sc-eb7bd5f6-0 fYAfXe\">Investors also have other key issues to focus on this week.<!-- --><\/p>\n<p class=\"sc-eb7bd5f6-0 fYAfXe\">On Thursday, the US Federal Reserve is due to announce its latest decision on interest rates.<!-- --><\/p>\n<p class=\"sc-eb7bd5f6-0 fYAfXe\">Comments from the head of the central bank, Jerome Powell, will be watched closely around the world.<!-- --><\/p>\n<p class=\"sc-eb7bd5f6-0 fYAfXe\">On Friday, top Chinese officials are expected to unveil more details about Beijing&#8217;s plans to tackle the slowdown of the world&#8217;s second largest economy.<!-- --><\/p>\n<\/div>\n<p><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-3711241968723425\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-format=\"fluid\"\r\n     data-ad-layout-key=\"-fb+5w+4e-db+86\"\r\n     data-ad-client=\"ca-pub-3711241968723425\"\r\n     data-ad-slot=\"7910942971\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><br \/>\n<br \/><div data-type=\"_mgwidget\" data-widget-id=\"1660802\">\r\n<\/div>\r\n<script>(function(w,q){w[q]=w[q]||[];w[q].push([\"_mgc.load\"])})(window,\"_mgq\");\r\n<\/script>\r\n<br \/>\n<br \/><a href=\"https:\/\/www.bbc.com\/news\/articles\/c6246e3w935o\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The US dollar has surged as Donald Trump is now projected to have won the presidency and will re-enter the White House. Bitcoin has also hit a record high while &hellip; <a href=\"https:\/\/hotvideos24.online\/?p=122792\" class=\"more-link\">Read More<\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"class_list":["post-122792","post","type-post","status-publish","format-standard","hentry","category-business","entry"],"_links":{"self":[{"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/posts\/122792","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=122792"}],"version-history":[{"count":0,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/posts\/122792\/revisions"}],"wp:attachment":[{"href":"https:\/\/hotvideos24.online\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=122792"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=122792"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=122792"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}