Attack on Donald Trump: 'Trump trade' expected to gather momentum

Washington: Following the assassination attempt on former United States president Donal Trump, the 'Trump trade' is expected to get more momentum, Bloomberg reports.

According to the news media, the far-right/controversial Republican ex-president is getting ground since Biden's poor performance in the previous month's debate, badly affecting his campaign. There is a stronger-than-before anticipation that Trump is going to return to power in the US.

Trump is said to be galvanizing supporters and drawing an impetus from the shooting attack on stage at a Pennsylvania rally a day ago. Bloomberg reports that the Republican is drawing sympathy by exhibiting defiant resilience.

Biden, who was using the strategy of drawing attention to his opponent's behaviour and second-term agenda for the elections, has lost that tool following the attack on Trump. He has been battered by doubts about his mental fitness and pressure to step aside from candidature, but he surfaced with an energetic speech in Detroit on Friday and vowed to "shine a spotlight" on Trump. Bloomberg says Biden is planning to push that argument till Election Day in November.

In early trades on the day, the dollar moved higher against most peers in Asia while Mexico's peso slid 0.3 per cent. The dollar is expected to gain if the loose fiscal policy kept bond yields elevated. As a result of Trump's crypto-friendly stance, Bitcoin rose above $60,000. Also, futures on the S&P 500 Index for September rose by 0.2 per cent at 08.47 pm in New York.

On Sunday, Biden had expressed his sympathy over the shooting attack on Trump and promised that a Secret Service probe would be initiated into its security measures. However, some Republicans have claimed that it was Biden who motivated the assassin.