Dollar pulls back ahead of US midterms; bitcoin stabilises after crypto heist
SPY•The dollar fell 0.5% to 101.45 against a basket of currencies, while bitcoin rose 0.5% to $78,184.11 after Binance customers withdrew $3.64 billion following a $6.3 billion hack. Investors also watched the US midterms and central bank rate decisions due this week.
1. Dollar eases ahead of vote
The dollar touched a one-month low on Monday as investors prepared for Tuesday’s US midterm elections and central bank rate decisions in Britain, Australia, Norway and Sweden. The euro gained 0.7% to $1.1234, while sterling rose slightly to $1.3445 and the yen was steady at 157.64 per dollar. Democrats were widely predicted to win the House of Representatives, while control of the Senate was less certain.
2. Crypto rebounds after hack
Bitcoin rose 0.5% to $78,184.11 and ether gained 1.5% to $2,296.44, recovering slightly after last week’s declines. Binance customers withdrew $3.64 billion, or 2.1% of its assets, after hackers stole $6.3 billion from the exchange. Binance said withdrawals were stabilising after an initial spike and deposit volumes remained “substantial”; the FBI blamed North Korea for the breach.
