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US Dollar Index Plunges to 3-Year Low as Gold Hits ATH, BTC Tops $87K 

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The US Dollar Index (DXY) has fallen to its lowest level for three years as the world’s reserve currency depreciates under the weight of escalating global trade tensions instigated by President Trump.

DXY, which is a measure of the greenback against a basket of six leading currencies, has fallen to 98.23, its lowest level since March 2022, according to TradingView.

“The dollar Index is below 98.5, a new three-year low. This is getting serious,” said gold investor Peter Schiff on April 21.

DYX Down 10%, Gold Up

The Index has retreated more than 10% since the beginning of this year as Trump’s trade tariffs have weakened the currency alongside investor sentiment for the United States.

However, it saw a similar decline between October and December 2022 when it fell from 114 to 101 as the greenback depreciated.

This dip has been deeper, however, with more pain predicted if trade deals are not made fast.

The euro is above $1.15, and the dollar has also fallen below 141 Japanese yen and 0.81 Swiss francs in a 14-year low, observed Schiff.

Meanwhile, gold prices have hit another all-time high of $3,380 per ounce, he added. The usually slow-moving precious yellow metal has gained a whopping 29% in dollar terms since the beginning of this year as investors flock to safe havens amid the currency crisis.

BTC Hits 4-Week High

Meanwhile, Bitcoin appears to have decoupled from tech stocks and realigned with gold, surged 2.5% on the day to reclaim a four-week high of $87,550 during the Monday morning trading session in Asia.

Bitcoin appears to be holding gains, trading at $87,400 at the time of writing rather than bouncing back down off resistance. However, it needs to clear the $88,500 level it reached in late March to see a larger move into the $90K range.

“I’m open to the possibility that it may be finally happening. Bitcoin taking on its final form. Either that or somebody is levering up on longs for some other reason,” dedi economist Alex Krüger.

He also suggested that investors in Asia were viewing Bitcoin as a safe haven, whereas those in the US were speculating with it as a risk asset.

Gönderi US Dollar Index Plunges to 3-Year Low as Gold Hits ATH, BTC Tops $87K  ilk olarak şurada yayınlandı CryptoPotato.

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