ASX edges up, Trump gives crypto a Christmas boost
The Australian market edged slightly higher in early morning trade and crypto got a nice shot in the arm.
The S&P/ASX200 shifted up 9.10 points, or 0.11%, to 8,471.70 points at 10.31am AEDT. The index has gained 0.32% over the past five days and is currently 0.50% off its 52-week high.
US President-elect Donald Trump has decided to appoint a pro-crypto advocate to lead the Securities and Exchange Commission which pushed Bitcoin to US$99,000 ($153,908) overnight.
US Federal Reserve Chairman Jerome Powell, meanwhile, has slightly tempered expectations of a December rate cut, but that did not seem to have an impact on market sentiment.
Powell said the US economy is stronger than expected and that could allow policymakers more caution in…
