Weakened by recession fears, the dollar fell early this week. This decline came despite the Fed's willingness to curb inflation with a likely new rate hike, with recession fears weighing on the currency's long-term future.

By 09:15 GMT (11:15 a.m. CET), the Dollar Index, which compares the U.S. currency to other major currencies, was at 103.85 points, losing 0.31 percent. The greenback was still trading at very high levels, close to its 20-year high reached earlier this month.

The U.S. Federal Reserve (Fed) has indeed increased earlier in the month its key rates by 0.75 point, a measure not seen since 1994. On the cryptocurrency side, bitcoin was holding above the $21,000 mark at $21,439.85.