# This week in charts: currencies in the spotlight

**URL:** <https://community.investengine.com/t/this-week-in-charts-currencies-in-the-spotlight/1966>\
**Category:** Our News\
**Created:** [15 November 2024 16:19 UTC](https://community.investengine.com/t/this-week-in-charts-currencies-in-the-spotlight/1966 "2024-11-15T16:19:50Z")\
**Posts on this page:** 2\
**Page:** 1

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**Author:** ![InvestEngine-News](https://dub1.discourse-cdn.com/flex017/user_avatar/community.investengine.com/investengine-news/32/575_2.png) [@InvestEngine-News](https://community.investengine.com/u/InvestEngine-News)\
**Post date:** [15 November 2024 16:19 UTC](https://community.investengine.com/t/this-week-in-charts-currencies-in-the-spotlight/1966/1 "2024-11-15T16:19:50Z")

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Originally published at: [This week in charts: currencies in the spotlight – InvestEngine Insights](https://blog.investengine.com/this-week-in-charts-currencies-in-the-spotlight/)

Trump’s proposed tariffs on imports, tax cuts, and reduced immigration are all likely to push costs and prices in the US up – which raises inflation. His election therefore resulted in an increase in expectations for US interest rates, which had the knock-on effect of causing the US dollar to rise, as short-term currency movements are correlated with interest rate differentials between countries. This has undone much of the gains sterling had made against the dollar this year.

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A Trump administration is also expected to be supportive of the crypto industry, and now that the Republicans will have control of the House as well as the Senate, there is a higher likelihood of favourable legislation being passed. This optimism has propelled Bitcoin to a new all-time-high of over $90,000.

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This crypto surge has meant that funds invested in Bitcoin ETFs in the US have started to overtake gold funds. At $41 billion, the assets under management (AUM) of the largest Bitcoin ETF, the US-listed iShares Bitcoin Trust (IBIT) has surged past the AUM of the iShares Gold fund from the same fund company (IAU, $32 billion). Funds directly investing into cryptocurrencies are banned from being sold to retail investors in the UK.

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 ![](https://europe1.discourse-cdn.com/flex017/uploads/investengine/original/2X/7/79cfff486ff8d33ce15ffb279fc1d7ceb914ebbd.png)
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Finally, US inflation figures were released this week. Headline CPI rose to 2.6%, which was an increase from last month’s 2.4%. Once volatile food and energy prices were stripped out, “core” CPI held steady at 3.3%, with both figures indicating the Federal Reserve had more work to do to bring inflation under control.

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 ![](https://europe1.discourse-cdn.com/flex017/uploads/investengine/original/2X/b/bcfe755bfe2fc16884b7b20e4a1b6985ecb0187b.png)
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**Author:** ![Omian](https://avatars.discourse-cdn.com/v4/letter/o/71e660/32.png) [@Omian](https://community.investengine.com/u/Omian)\
**Post date:** [20 November 2024 10:13 UTC](https://community.investengine.com/t/this-week-in-charts-currencies-in-the-spotlight/1966/2 "2024-11-20T10:13:21Z")

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Compounded by developments in Ukraine the saying ‘Events Dear Boy’ has a heightened relevancy.