Crypto Frenzy: Euro and Bitcoin Surge Amid Geopolitical Shifts

The euro and Bitcoin surged due to geopolitical developments. European leaders are pushing for a Ukraine peace plan, boosting the euro. Bitcoin surged above $95,000 after Trump included it in a new strategic cryptocurrency reserve. Tariff discussions impact the Canadian dollar and Mexican peso as a trade war with China looms.

The euro experienced a significant rebound against the U.S. dollar, reflecting renewed efforts by European nations to foster peace in Ukraine. Concurrently, the Canadian dollar and Mexican peso appreciated after comments from U.S. Commerce Secretary Howard Lutnick suggested potential leniency on upcoming tariffs.

Bitcoin saw a dramatic rise, approaching the $95,000 mark after President Donald Trump announced the inclusion of the cryptocurrency in a new strategic reserve. This announcement was made in a social media post, contributing to a bullish market sentiment and reversing the token's prior decline.

Political tensions have also influenced other currencies, such as the British pound, which gained as European leaders prepared a peace plan for Washington. Meanwhile, the ongoing trade conflict with China continues to shape economic forecasts.

(With inputs from agencies.)