The US dollar surged against a basket of currencies as Donald Trump appears ready to return to the White House.

Investors began making “Trump trades” again on the assumption that he would raise tariffs on foreign imports to protect domestic industries, driving up the prices of imported goods and with that inflation, while also increasing prices. borrowing and the country’s public debt.

US Treasury yields – essentially the interest rate the US government pays on its debt – have also risen in response to these pressures, with investors now betting that the US Federal Reserve will make its next decision on Treasury rates. interest Thursday, will take a more cautious approach to rate cuts in the coming months.

US stock markets are expected to open later in the day, while in Asia, Hang Seng stocks were lower on fears that Trump could impose 60% tariffs on Chinese goods.

Meanwhile, Bitcoin hit an all-time high of $75,060, with crypto investors buoyed by hopes of having a currency ally in the White House and, with it, a calmer regulatory environment, even positive, for digital assets.

The price of oil also fell to below $75 a barrel on expectations that the Trump administration would encourage crude flows into the United States.