The euro rebounded from a 2-1/2-week low against the U.S. dollar on Monday as Europe took the lead in a renewed push for peace in Ukraine. The Canadian dollar and Mexican peso also rose after hints that U.S. tariffs may not be as severe as initially thought. Bitcoin surged back to around $95,000 following U.S. President Donald Trump’s announcement of a new strategic cryptocurrency reserve that includes the token. The euro climbed 0.4% to $1.0415, while sterling also gained ground.
European leaders are working on a peace plan for Ukraine, which is boosting the euro. The Australian and New Zealand dollars, considered risk indicators, are bouncing back from recent lows. Meanwhile, the Japanese yen weakened and the Canadian dollar and Mexican peso both saw gains. There are indications that U.S. tariffs may not be as steep as expected, particularly in negotiations with Canada and Mexico.
The U.S. dollar index eased slightly, while China’s yuan strengthened in offshore trading. Analysts expect the dollar to resume its rally as the trade war continues to escalate. Bitcoin saw a significant increase in value following Trump’s announcement of a strategic cryptocurrency reserve that includes other tokens as well. This information was gathered from an automated news agency feed without alterations.
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