Dollar Holds Firm Ahead of Trump's Inauguration

20 Jan 2025 , 10:35 AM

At the beginning of a crucial week on Monday, when Donald Trump returns to the White House with an inaugural speech that will be the main focus for investors looking to understand his initial objectives, the dollar was trading close to a two-year high.

As speculators bet that the Bank of Japan will raise its policy interest rate this week, the Japanese yen gained a little strength on Monday, holding around a one-month high from last week. However, since U.S. markets are closed, trading is probably going to be light.

Following the release of three Israeli captives by Hamas and the release of ninety Palestinian detainees by Israel on Sunday, the first day of a ceasefire that halted a war that has been going on for 15 months, investors are also monitoring events in the Middle East.

Investors in cryptocurrencies are still in party mode as they anticipate executive orders from Trump that would lower regulatory barriers and encourage the broad use of digital assets.

Trump promised to be a “crypto president” in order to attract cryptocurrency campaign funds. On Friday, he introduced a digital token that briefly surged above $70, with a market worth of almost $15 billion.

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