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.

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