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.

The US Dollar (USD) stays on the back foot to start the week as investors gear up for Donald Trump's second inauguration. Meanwhile, stock and bond markets in the US will be closed in observance of the Martin Luther King Jr. Day holiday on Monday.

President-elect Donald Trump will be inaugurated today as the nation's 47th president. Today's inauguration marks Trump's second term in office. This is the 60th presidential inauguration, and Trump will officially become both the 45th and 47th president of the United States.

The dollar was on the defensive at the start of a pivotal week on Monday as Donald Trump returns to the White House, with his inauguration speech later in the day the primary focus for investors hoping to decipher his immediate policies.