LONDON, July 15 Reuters The dollar held steady on Monday and cryptocurrencies jumped as investors weighed up what the attempted assassination of former U.S. President Donald Trump might mean for his chances in the 2024 elections and the possible impact on markets.

In the aftermath of the shooting, investors narrowed the odds of a Trump victory. Such an expectation has in the past strengthened the dollar as traders have calculated its would lead to looser fiscal policy and extra trade tariffs.

But gains for the currency in AsiaPacific trading hours were shortlived, with the market also focused on the monetary policy outlook.

There39;s still a lot of ground to be covered between now and November and a lot of uncertainty about what the Federal Reserve will do in the coming months, Jane Foley, senior FX strategist at Rabobank, said.

Markets are now fully pricing a quarterpoint rate cut from the Fed in September after data last week showed consumer prices fell on a monthly basis for the first in four years in June.

On one hand you have increased likelihood of the Fed cutting in September and on the other hand an increased chance of a Trump presidency which suggests the interest rate cycle could be quite limited, Rabobank39;s Foley added.

You have these two opposing factors for the dollar in the near term.

The dollar index , which measure the currency against six major peers, was last up less than 0.1 on the day at 104.10.

The euro was little changed at 1.0910 after…