Japan stands ready to take all possible measures to counter excessively volatile currency moves, Chief Cabinet Secretary Yoshimasa Hayashi said on Tuesday, keeping markets on alert over the chance of renewed intervention to prop up the yen.
A second term for Trump is expected to be positive for the dollar, given that he is widely expected to enact more protectionist trade policies that could result in higher inflation. Such a scenario could keep interest rates relatively higher in the long-term.
The yellow metal’s recent advance was fueled chiefly by increased bets that the Fed will begin cutting rates by September, following soft inflation readings and somewhat dovish signals from the central bank.
Bitcoin price rose on Tuesday, buoyed by the prospect of friendlier crypto regulations in the U.S. as traders speculated that Donald Trump will win a second term in the 2024 presidential race.
Most Asian stocks rose on Tuesday, tracking gains on Wall Street amid increasing expectations for a September interest rate cut, while Chinese markets lagged on concerns over a cooling economy and headwinds from U.S. politics.
