Dollar and Bitcoin soar as Trump wins presidency

Following Donald Trump’s re-election, the US dollar surged to its highest gain in eight years, driven by investor confidence in Trump's proposed tax cuts and increased tariffs.

His policies are expected to stimulate inflation and limit interest rate cuts, making dollar investments more appealing.

Bitcoin also hit a record high, buoyed by Trump’s support for cryptocurrencies and his proposal to make the US a global leader in this sector.

Markets reacted strongly: the US dollar rose against major currencies, and stock indexes climbed, particularly benefiting banks. Meanwhile, Trump’s stance on trade, especially with plans to raise tariffs, is causing global concerns, potentially slowing UK growth and impacting Asian markets heavily.