{
  "id": 17720585,
  "title": "Dollar rangebound ahead of US midterms; bitcoin reels from crypto heist",
  "url": "https://urgent.news/2026/11/02/dollar-rangebound-ahead-of-us-midterms-bitcoin-reels-from-crypto-heist-17720585",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-11-02T01:00:12.000Z",
  "source": {
    "name": "New Straits Times",
    "slug": "new-straits-times",
    "url": "https://www.nst.com.my/business/economy/2026/11/1568743/dollar-rangebound-ahead-us-midterms-bitcoin-reels-crypto-heist"
  },
  "original_language": "en",
  "account": "The US dollar and major currencies remained relatively stable on Monday as investors focused on the upcoming US midterm elections. These elections, scheduled for Tuesday, could potentially alter the balance of power in Congress and control over federal spending. In the cryptocurrency market, Bitcoin and Ether experienced declines following a record US$6.3 billion heist at Binance, the world's largest crypto exchange. Market participants were wary of the week's events, which included the release of US jobs data in October and key rate decisions by central banks in the UK, Australia, Norway, and Sweden.\n\nThe euro weakened to a 17-month low against the US dollar, supported by Fitch's downgrade of France's outlook to negative from stable following Friday's close. The British pound remained relatively unchanged at US$1.3387, while the US dollar steadied at 101.94 against a basket of currencies.\n\nWith Americans heading to the polls to decide whether Democrats can gain control of Congress from President Donald Trump's Republican Party, analysts cautioned that election outcomes could be difficult to predict. While polls indicate strong anti-incumbent sentiment, this sentiment has not always translated into actual election results, as seen in Brazil and Israel. Eric Robertsen, global head of research and chief strategist at Standard Chartered, noted that a Democratic sweep of Congress might pose challenges for capital expenditure plans in data centers and AI infrastructure at the state level. Additionally, the upcoming debate on raising the US debt ceiling would be among the most contentious in recent history.\n\nIn the aftermath of the Binance heist, Binance customers withdrew US$3.64 billion in assets, representing 2.1% of the exchange's total assets. The exchange reported that withdrawals were stabilizing, and deposits remained substantial. Binance claimed it had recovered 95% of the stolen funds, totalling US$6.3 billion. Richard Forss, chief technology officer at global prime broker EXANTE, warned that the recent incident highlighted the vulnerability of the blockchain technology underlying cryptocurrencies, emphasizing that trust in employees' laptops remains the weakest link in digital finance.",
  "summary": "SINGAPORE: The dollar and other major currencies were in a holding pattern on Monday as investors turned their attention to this week's US midterm elections, which could shift the balance of power in Congress and control over the federal purse strings.",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 4,
    "also_reported_by": [
      {
        "outlet": "Investing.com",
        "title": "Dollar rangebound ahead of US midterms; bitcoin reels from crypto heist",
        "url": "https://urgent.news/2026/11/02/dollar-rangebound-ahead-of-us-midterms-bitcoin-reels-from-crypto-heist",
        "published": "2026-11-02T01:00:34.000Z"
      },
      {
        "outlet": "Free Malaysia Today",
        "title": "Dollar rangebound ahead of US midterms, bitcoin reels from crypto heist",
        "url": "https://urgent.news/2026/11/02/dollar-rangebound-ahead-of-us-midterms-bitcoin-reels-from-crypto-heist-17726794",
        "published": "2026-11-02T01:34:29.000Z"
      },
      {
        "outlet": "Business Recorder",
        "title": "Dollar rangebound ahead of US midterms; bitcoin reels from crypto heist",
        "url": "https://urgent.news/2026/11/02/dollar-rangebound-ahead-of-us-midterms-bitcoin-reels-from-crypto-heist-17737605",
        "published": "2026-11-02T02:52:46.000Z"
      }
    ]
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}