U.S. Dollar Falls to One-Week Low

The U.S. dollar has fallen to a one-week low against major currencies, marking a continuation of a three-day decline that follows a brief peak after Donald Trump's election. The decline is attributed to investor concerns following statements from Russian officials regarding nuclear tensions, which shifted market sentiment toward safety. Concurrently, Bitcoin has surged to an all-time high exceeding $94,000, fueled by expectations of a more favorable regulatory climate for cryptocurrencies under Trump. The dollar index dropped to 106.07 before recovering slightly, and analysts anticipate potential inflationary effects from Trump's proposed fiscal policies. Investors are awaiting the announcement of Trump's Treasury Secretary, amidst controversy surrounding his cabinet picks. Long-term projections for the dollar suggest a focus on robust economic data and the likelihood of slowed Federal Reserve rate cuts into 2025.