The US dollar fell to its lowest level against the euro in just over three years today as the US-China trade war escalated further.
According to foreign media, at around 9 am UK time, the dollar reached $1.14 against the euro, its weakest value against the European currency since February 2022.
The US dollar index, which measures the value of the greenback against a basket of major currencies, had also weakened 1.3% at the same time this morning, writes A2 CNN.
The tariff war started by Donald Trump has not only shaken international markets, but has also brought to light a phenomenon that has not been seen since the 1970s. For the first time, gold has taken a revenge against banknotes and especially the dollar and the euro. According to the latest calculations, it turns out that the price of gold has risen to a record level in the last 24 hours. The price of a 31.1 gram round rose to almost $ 3,176 in the US, extending the gains of the previous day.
Due to the tariff war instigated by US President Donald Trump, more investors are betting on gold. The rise in the precious metal is being driven by the rapid decline in the value of the US currency, international market experts say. This is also a consequence of the sale of US stocks and bonds. (A2 Televizion)
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