Cryptocurrency bitcoin hit a three-month high in early Asia 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.
Bitcoin got a lift from Trump's improving prospects since his administration is seen as taking a softer line on cryptocurrency regulation.
The clearest way to express the Trump tariff risk was to be long dollars versus the euro, Swiss franc and Mexican peso , he said.
Brad Bechtel, global head of FX at Jefferies, also noted that rising real interest rates were helping the dollar along, particularly against those three currencies.
"We expect this trend to continue straight into the election and if Trump wins, likely well after the election as well," Bechtel wrote.
Persons:
Cryptocurrency bitcoin, Donald Trump, Bitcoin, Chris Weston, Pepperstone, Weston, Brad Bechtel, Bechtel
Organizations:
U.S, Trump, China, BTC, Swiss, FX, Jefferies
Locations:
Asia, U.S