US Dollar Falls To One-Week Low After Safety Bid

The US dollar has suffered a major setback, falling to its lowest level in a week compared to key currencies such as the yen and euro. This loss ends a three-day losing streak, which was fuelled by investors seeking safer alternatives and decreasing their appetite for the dollar.

The decline came after the statement made by Russian President Vladimir Putin. He said that the country would “do everything possible” to avoid the onset of a nuclear war, hours after Moscow indicated it would decrease its threshold for a nuclear strike.

Meanwhile, Bitcoin has surged to a fresh all-time peak above $94,000, driven by expectations of a friendlier regulatory environment for cryptocurrencies under Trump. The dollar index fell to 106.07, its lowest point since last Wednesday, and stood at 106.18 at 0247 GMT.

In fact, investors are still waiting for Trump to name a Treasury Secretary following the announcement of several other high-profile appointments, including Wall Street CEO Howard Lutnick as head of the Commerce Department.