According to Jinshi Data, the U.S. dollar remained below a six-and-a-half-month high against major currencies on Wednesday, and Bitcoin further departed from its record high. The U.S. inflation data is about to be released, and the market has paused the "Trump trade."
Saxo Bank's chief investment strategist said the focus may shift to inflation and Fed policy in the second half of this week, and the market may be more sensitive if CPI is higher than expected. Bitcoin is now trading at $86,274 after hitting a record high of $89,998 on Tuesday.
Strategists at Royal Bank of Canada believe that the dollar's rally is not over yet, and although Trump prefers a weak dollar, his policy recommendations support a stronger dollar.
