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US dollar pulls back, bitcoin jumps ahead of ETF approval deadline

From channelnewsasia.com

The dollar paused its rally on Tuesday, as traders reaffirmed their bets for a slew of Federal Reserve rate cuts this year on the belief that inflation in the U.S. is slowing sufficiently. In cryptocurrencies, bitcoin hovered near its strongest level since April 2022 on growing anticipation of imminent approvals of spot bitcoin exchange-traded funds (ETF). The euro last stood at $1.0950, away from its recent three-week low of $1.0877, while the Japanese yen distanced itself from the 145 per dollar level following a broad decline in the greenback as U.S. Treasury yields slipped. The moves were partly driven by the New ... (full story)

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  • Category: Fundamental Analysis