In light of a recent court ruling temporarily blocking Donald Trump's tariffs, the U.S. dollar has strengthened while crypto markets have remained tranquil.
Dollar Strengthens Following Court Ruling
Following a federal trade court ruling that President Trump overstepped his authority, the dollar gained 0.34% against both the yen and Swiss franc, hitting a two-week high. The dollar also gained against the euro and British pound.
Impact on Asian Currency Markets
Trump's unpredictable trade policies have negatively impacted U.S. assets, prompting investors to pull funds from U.S. investments in favor of Asian currencies like the yuan and Taiwan dollar.
Crypto Assets Remain Stable
Cryptocurrencies like Bitcoin exhibited limited price movement, hovering around $108,500 while experiencing significant asset accumulation among major holders.
The short-term stability of cryptocurrencies amidst volatility in other markets may indicate a potentially longer-term bullish trend, despite the dollar's weak performance throughout the year.
