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The dollar falls and Bitcoin soars ahead of the approval of spot trading funds
Arab and international
Economy News - follow up
[rtl]The dollar's rise stopped during Tuesday's trading, with traders once again confirming their bets that the Federal Reserve (the US central bank) will make a series of interest rate cuts this year based on the belief that inflation in the United States is slowing sufficiently.[/rtl]
[rtl]Regarding cryptocurrencies, Bitcoin moved near its highest level since April 2022 amid growing expectations that approvals for spot Bitcoin trading funds are imminent.[/rtl]
[rtl]The euro settled in the latest transactions at $1.0949, away from its lowest level in three weeks at $1.0877, while the yen moved away from the 145 level against the dollar after a sharp decline in the US currency with the decline in US Treasury bond yields.[/rtl]
[rtl]These moves were driven by reasons including the New York Federal Reserve Bank's recent survey of consumer expectations, which showed that US consumers' expectations for short-term inflation fell to their lowest level in nearly three years in December.[/rtl]
[rtl]A reading on US inflation is due later in the week, which will likely provide more clarity on how much room the Federal Reserve has to cut interest rates this year.[/rtl]
[rtl]The dollar fell slightly by 0.04 percent to 102.26 against a basket of currencies after rising 1 percent last week.[/rtl]
[rtl]The British pound settled at $1.27395.[/rtl]
[rtl]The Australian dollar recorded $0.6708 when purchased in the latest trading, moving away from its lowest level in three weeks, which reached $0.6641 on Friday. The New Zealand dollar fell 0.19 percent to $0.6241, but remained some distance from its lowest level in three weeks, which reached $0.6182, on Friday.[/rtl]
[rtl]Tuesday's data showed core inflation in Tokyo slowed for the second straight month in December, relieving some pressure on the Bank of Japan to quickly abandon monetary policy easing.[/rtl]
[rtl]There was little change in the yen after the release of the data, and it rose in the latest trading by 0.3 percent to 143.81 against the dollar.[/rtl]
[rtl]Bitcoin settled in the latest transactions at $46,771 after rising to its highest level in 21 months at $47,281 in the previous session.[/rtl]
Views 16
Added 01/09/2024 - 1:30 PM
https://economy-news.net/content.php?id=39264
Arab and international
Economy News - follow up
[rtl]The dollar's rise stopped during Tuesday's trading, with traders once again confirming their bets that the Federal Reserve (the US central bank) will make a series of interest rate cuts this year based on the belief that inflation in the United States is slowing sufficiently.[/rtl]
[rtl]Regarding cryptocurrencies, Bitcoin moved near its highest level since April 2022 amid growing expectations that approvals for spot Bitcoin trading funds are imminent.[/rtl]
[rtl]The euro settled in the latest transactions at $1.0949, away from its lowest level in three weeks at $1.0877, while the yen moved away from the 145 level against the dollar after a sharp decline in the US currency with the decline in US Treasury bond yields.[/rtl]
[rtl]These moves were driven by reasons including the New York Federal Reserve Bank's recent survey of consumer expectations, which showed that US consumers' expectations for short-term inflation fell to their lowest level in nearly three years in December.[/rtl]
[rtl]A reading on US inflation is due later in the week, which will likely provide more clarity on how much room the Federal Reserve has to cut interest rates this year.[/rtl]
[rtl]The dollar fell slightly by 0.04 percent to 102.26 against a basket of currencies after rising 1 percent last week.[/rtl]
[rtl]The British pound settled at $1.27395.[/rtl]
[rtl]The Australian dollar recorded $0.6708 when purchased in the latest trading, moving away from its lowest level in three weeks, which reached $0.6641 on Friday. The New Zealand dollar fell 0.19 percent to $0.6241, but remained some distance from its lowest level in three weeks, which reached $0.6182, on Friday.[/rtl]
[rtl]Tuesday's data showed core inflation in Tokyo slowed for the second straight month in December, relieving some pressure on the Bank of Japan to quickly abandon monetary policy easing.[/rtl]
[rtl]There was little change in the yen after the release of the data, and it rose in the latest trading by 0.3 percent to 143.81 against the dollar.[/rtl]
[rtl]Bitcoin settled in the latest transactions at $46,771 after rising to its highest level in 21 months at $47,281 in the previous session.[/rtl]
Views 16
Added 01/09/2024 - 1:30 PM
https://economy-news.net/content.php?id=39264
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