By the end of 2025, it became possible to read clear features of U.S. President Donald Trump's economic and trade policies, which are expected to continue and expand in 2026. These policies, based on the slogan "America First", have direct implications for traditional currency markets such as the dollar and the euro, as well as for digital assets like Bitcoin$BTC , in addition to commodity currencies like the Canadian dollar.

U.S. Dollar (#USD )

The dollar remains relatively strong thanks to the protective policies implemented by Trump in 2025, such as tariffs and domestic manufacturing. These measures attract capital to the U.S. market and increase demand for the dollar. Rising yields on U.S. bonds due to industrial and energy spending reinforce this trend, making the dollar more attractive to global investors. However, the inflation resulting from tariffs remains a challenge for the Federal Reserve, but Trump politically presents it as the "cost of economic independence," creating a narrative that supports the dollar's strength despite the pressures.

Euro (#EUR )

The euro is directly affected by trade tensions. Any escalation between the U.S. and China or between the U.S. and Europe puts pressure on the European economy, which relies on exports. Additionally, Trump's pressure on NATO to increase defense spending adds an extra burden on European budgets, weakening the euro against the dollar. The likely scenario is a continued relative weakness of the euro if American policies continue to attract investments domestically, reinforcing the gap between the two currencies.

Bitcoin (#BTC )

Bitcoin benefits from the uncertainty created by protective policies and tariffs. In 2025, we have already seen some investors turning to Bitcoin as an alternative safe haven during times of tension. If Trump moves towards more regulatory clarity in the crypto market, as he began in 2025, we may see larger institutional flows towards Bitcoin, enhancing its status as an alternative asset. However, Bitcoin remains sensitive to any security rhetoric against foreign platforms, which could create sharp volatility waves.

Canadian Dollar (#CAD )

The Canadian dollar is closely tied to energy prices. Trump's continued support for oil and gas in 2025 will carry on into 2026, boosting crude prices and supporting the Canadian dollar as a commodity currency. However, the strength of the U.S. dollar may limit the gains of the Canadian dollar, creating a dual effect: support from oil prices countered by pressure from the strength of the dollar. The likely outcome is that the Canadian dollar moves within a balanced range, benefiting from energy but affected by American policies.

Summary

U.S. Dollar: Strong and dominant due to tariffs and high yields.

Euro: Under pressure due to trade tensions and defense spending.

Bitcoin: Benefiting from uncertainty and potential regulatory clarity.

Canadian Dollar: Supported by oil prices but limited against the strength of the U.S. dollar.