The dollar inched lower against most major currencies as traders trimmed widely-favored bullish positions on the greenback just hours ahead of Donald Trump’s second inauguration as the US President.

The U.S. dollar dropped and bitcoin hit an all-time high on Monday before Donald Trump’s inauguration as U.S. president later in the session, with investors focusing on policy announcements that could immediately affect the greenback.

Bitcoin (BTC) zoomed to a record level above $109,000 during the Asian trading hours on Monday ahead of Republican Donald Trump's scheduled

Bitcoin reached an all-time high of $109,241 as the US prepares to inaugurate pro-crypto President-elect Donald Trump.

Donald Trump's newly-created cryptocurrency soared on Monday to nearly $12 billion in market value, drawing in billions in trading volume, while bitcoin hit a record high just hours ahead of the U.S.