Bitcoin Soars Near $100K amid Trump Crypto Speculation

Bitcoin soars near $100K amid Trump crypto speculation. Analysts, including Matt Britzman from Hargreaves Lansdown, cite hopes for a crypto-friendly federal stance under Trump as a driving force behind investor sentiment. Discussions surrounding SEC Chair Gary Gensler’s possible resignation add to the bullish outlook.

Euro Recovery Expected by 2025

The euro will strengthen against the dollar by 2025, rising to $1.12 from $1.0522, according to UBS predictions. Modest economic growth and stable government bond yields within the eurozone will support this recovery. Analysts see a potential shift in subdued sentiment toward Europe as economic conditions improve. Factors such as robust trade dynamics and increasing investor confidence will likely contribute to the euro’s rebound. UBS underscores the role of macroeconomic stability in bolstering the euro’s long-term outlook.

Sterling and Australian Dollar Poised for Strength

Sterling and the Australian dollar will outperform, driven by slower rate cuts from the Bank of England and Reserve Bank of Australia. Consequently, UBS analysts predict GBP/USD reaching 1.35 and AUD/USD hitting 0.68 by late 2025. Moreover, favorable conditions for carry trades and balanced economic growth will support this trend. Therefore, both currencies will likely attract increased investor interest, strengthening their positions in the global market.

Bitcoin Surges Past $90,000 as Trump’s Second Term Spurs

Bitcoin surges $90,000 on Wednesday, marking an unprecedented milestone. This surge is largely attributed to investor optimism about

South African Rand Faces Challenges

The South African rand weakened to 18.1535 against the dollar as markets anticipated a 25-basis-point rate cut by the central bank. Moreover, declining inflation strengthens the case for monetary easing, encouraging a potential shift in monetary policy. However, geopolitical risks remain a significant factor, potentially altering the South African Reserve Bank’s strategy. Consequently, investors are closely monitoring economic trends and external pressures to assess the currency’s future trajectory.

Turkish Lira Falls Ahead of Policy Decision

The Turkish lira dipped to 34.5177 per dollar as investors awaited the central bank’s highly anticipated policy announcement. Furthermore, while rates are expected to remain steady at 50%, future guidance will significantly influence market sentiment. Additionally, a slowdown in inflation suggests a potential rate cut in December, heightening market speculation. Therefore, investors remain attentive to both inflation trends and the central bank’s forward-looking stance.

Dollar Remains Strong Post-Trump Reelection

The dollar continues trading in a high range, buoyed by steady U.S. economic data and Donald Trump’s reelection. The DXY index holds between 106-107, as expectations for a Federal Reserve rate cut in December wane. ING analysts highlight weak overseas economies as a supportive factor.

Bitcoin’s Rapid Climb Spurs Correction Fears

Bitcoin’s meteoric rise to $97,902, driven by optimism over Trump’s pro-crypto policies, has sparked concerns about a potential correction. IG analyst Christian Henke forecasts the cryptocurrency could reach $100,000 soon but warns of overvaluation risks after its swift ascent.