London (awp/afp) – The dollar falters on Monday shortly before the inauguration as president of the United States of Donald Trump, who has softened his speech towards Beijing, while bitcoin is gaining momentum in the prospect of a second term pro-crypto.
Around 11:15 a.m. GMT (12:15 p.m. CET), the American currency fell by 0.47% against the euro, to $1.0322, and lost 0.25% to the pound, to $1.2200. The greenback also fell (-0.15%) against the Chinese yuan.
“US dollar weakness was encouraged by reports of positive discussions between President-elect Donald Trump and Chinese President Xi Jinping late last week,” said Lee Hardman, analyst at MUFG.
Donald Trump, who takes the reins of the United States on Monday, described the call as “very good” and the Chinese leader said he hoped for a “good start” in bilateral relations between the two superpowers with many differences.
Enough to temper expectations of a strengthening of customs duties of 10% on products imported from China, already targeted during the first Trump mandate.
The president-elect plans to impose, as of January 20, customs duties of 25% on all products coming from Mexico and Canada, citing the fight against the entry of drugs and migrants into the United States.
However, such a trade policy, considered inflationary by the market which presages a continuation of American interest rates at a high level, had contributed to inflating the price of the greenback.
At the same time, bitcoin reached a new record on Monday at $109,241.14, with investors anticipating a US presidency favorable to the cryptocurrency sector. It moved Monday around 11:15 GMT, up 3.16% to $107,953.63.
In particular, Donald Trump’s advocacy for a national bitcoin reserve, which would bring together the United States’ holdings in this cryptocurrency, “helps to stimulate institutional interest and the perception of bitcoin as ‘digital gold’”, insists John Plassard, from Mirabaud, questioned by AFP.
Fueling the euphoria of the sector, the president-elect launched his own digital currency on the night of Friday to Saturday, with dazzling success: trading around 7 dollars shortly after their launch, the 200 million “Trump” tokens are rose to around 75 dollars each, before oscillating on Monday around 54 dollars.
The future head of state presented his new currency as a “memecoin”, a cryptocurrency with no economic or transactional utility, riding on popular enthusiasm around a personality or a viral phenomenon on the internet — and often identified as a purely speculative asset.
Monday lessons Friday lessons
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11:15 GMT 10:00 PM GMT
EUR/USD 1,0322 1,0273
EUR/JPY 161.44 160.57
EUR/CHF 0.9426 0.9399
EUR/GBP 0,8460 0,8441
USD/JPY 156,40 156,30
USD/CHF 0,9132 0,9150
GBP/USD 1,2200 1,2169
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