TOKYOLONDON, Nov 12 Reuters The U.S. dollar rose to a fourmonth peak versus major peers on Tuesday, while bitcoin extended its record rally as investors continued to pile into trades seen as benefiting from the incoming Donald Trump administration.

The euro languished at a sevenmonth trough and the yuan slumped to its lowest in more than three months, with Europe and China both targets of potential Trump tariffs.

Leading cryptocurrency bitcoin pushed to a new alltime peak of 89,982 and was last at 88,561. Trump has vowed to make the United States the crypto capital of the planet.

We are in a regulatory tailwind zone now, said Gautam Chhugani, an analyst at research firm Bernstein. We expect a cryptofriendly regulatory environment under Trump, starting with a procrypto SEC Securities and Exchange Commission.

The U.S. dollar index , which measures the currency against six peers rose 0.34 to 105.78, around its highest since early July.

The market is continuing to push U.S. equities, U.S. interest rates, and the dollar higher, said Alvin Tan, head of Asia FX strategy at RBC Capital Markets.

Today probably the impetus is the fact that we had these reports that Trump is looking to appoint Senator Rubio and also Congressman Waltz as the key foreign policy officials, and they39;re known for being quite hawkish on China.

Sources on Monday told Reuters that Trump is expected to tap U.S. Senator Marco Rubio to be his secretary of state, arguably the most hawkish option on…