Dollar dithers ahead of US midterms; bitcoin under pressure from crypto heist
SPY•The dollar and other major currencies traded in a holding pattern ahead of US midterm elections, while bitcoin and ether rebounded slightly after a $6.3 billion heist at Binance. Binance customers withdrew $3.64 billion, or 2.1% of its assets, after the exchange resumed service.
1. Currencies await events
The dollar eased 0.15% to 101.83 against a basket of currencies on Monday as investors focused on Tuesday’s US midterm elections, October jobs data and central bank rate decisions. The euro remained near a 17-month low at $1.1182 after Fitch revised France’s outlook to negative from stable.
2. Crypto rebounds after hack
Bitcoin rose 0.6% to $78,262.63 and ether gained 1.14% to $2,287.18, recovering slightly after reaching multiweek lows last week. Binance customers withdrew $3.64 billion, or 2.1% of its assets, after the exchange resumed service following a $6.3 billion security breach that the FBI blamed on North Korea.
3. Binance says withdrawals stabilising
Binance said withdrawals were stabilising after an initial spike and deposit volumes remained substantial. HashKey Group researcher Tim Sun said the incident had not yet triggered widespread panic or concentrated withdrawals.
