Dollar Surge and Bitcoin Rally Amid Election Uncertainty

The dollar strengthened on Monday while Bitcoin hit a three-month high due to rising U.S. bond yields and the upcoming Presidential election. ECB's dovish stance and solid U.S. economic data have influenced currency movements, boosting the dollar. Traders are eyeing election-related trades amidst shifting economic indicators.

The dollar gained strength on Monday, with Bitcoin reaching a three-month peak, influenced by climbing U.S. bond yields and anticipation of the forthcoming Presidential election.

Currency movements were affected by the European Central Bank's accommodative rate approach and robust U.S. economic data, projecting slower rate cuts in the U.S. and a dollar boost in case former President Donald Trump wins the presidency.

With traders considering election-related trades, market focus shifts to corporate earnings and political developments with Japan's general election also on the horizon.

(With inputs from agencies.)