The US dollar has gained $1.5 trillion against the euro since last summer, hitting a record high of $1,097.83 per euro on Friday, making it the most traded currency in the world.
That’s a big boost for the dollar and a big hit to euro yields.
The euro is currently trading at 0.7719 per euro, down from 0.8333 per euro a year ago.
The price of bitcoin has also gained about $500 on the news, according to CoinDesk.
But the gains have been slow and bearish.
Bitcoin was trading at $1.,095 at 12:01 p.m.
ET on Friday and has since dropped by more than $1 a share.
“The dollar’s gains have had little impact on the market sentiment and that’s partly because the dollar has been strong over the last few weeks,” said David Mirengreen, managing director at consultancy firm Investec.
“Bitcoin’s rise to a new all-time high is not a sign of weakness in the dollar, but a signal that the dollar is trading at an extremely low level.”
The move by the US dollar also comes as China is poised to launch a massive trade surplus on Monday.
It will see imports from the US rise by about $US1 trillion, according a Bloomberg report.
China will also buy more than two-thirds of the country’s foreign currency reserves, a move that could help keep inflation at a record low.