The SMI is experiencing a decline in pre-market trading as Wall Street loses momentum.

Tesla shares continue to rise, while Bitcoin reaches a new all-time high, influenced by recent political developments.

In Asian currency markets, the dollar has strengthened against the yuan and the Swiss franc.

The euro, on the other hand, has dipped against the dollar but has seen a slight increase against the franc.

The potential for new tariffs under the Trump administration is putting pressure on the euro, with analysts warning of possible inflation and its impact on the Federal Reserve's ability to lower interest rates.

With Donald Trump's Republican Party securing a majority in the US House of Representatives, it is expected that his political agenda will face less resistance from Democrats.

This Republican dominance in both chambers of Congress may facilitate the implementation of legislative projects, according to insights from Vasu Menon of OCBC Bank.