Dollar rises, Bitcoin hits record as markets shake off Trump tariff threats

Dollar rises, Bitcoin hits record as markets shake off Trump tariff threats
Reuters

The U.S. dollar strengthened and Bitcoin surged to a new record, as investors shrugged off fresh tariff threats from President Donald Trump.

The dollar gained against major currencies, rising 0.37% to 0.797 Swiss francs and pushing the euro down 0.23% to $1.1692. The dollar index climbed 0.27%. 

Markets remained calm despite Trump's threat of 50% tariffs on Brazil, which triggered a 2.8% drop in the Brazilian real.

Investors leaned into riskier assets amid optimism that extreme trade measures were unlikely. This lifted Bitcoin to an all-time high of $113,820 and helped Nvidia reach a historic $4 trillion valuation.

U.S. jobless claims unexpectedly fell, pushing 10-year Treasury yields slightly higher. Fed minutes signalled likely interest rate cuts later this year, further boosting market confidence.

Tags