Bitcoin is plunging. Negative comments in the media and stricter regulations continue to weight on the cryptocurrency.
Bank of England increased rates
The Bank of England (BoE) raised the benchmark interest rate for the first time in more than 10 years. Out of 9 members of the central bank’s Monetary Policy Committee (MPC) voted 7-2 to increase its benchmark Bank Rate from 0.25% to 0.50%. The market was ready to such action of the regulator, so the decision of the BoE didn’t come as surprise.
At the same time, traders considered the following comments dovish. According to the regulator, further increases over the next three years will be only “very gradual” and to a limited “extent”.
The BoE Governor Mark Carney said that the biggest factor driving moves in interest rates from now will likely be the outcome of Brexit talks.
GBP/USD fell from the levels around 1.3300 to the 1.3100 area.
America’s on the verge of starting an investigation into whether thermoplastic components utilized in some Japanese as well as German vehicles sold in the country violate its patent laws or not…
On Monday, gold headed south in European trade, making its way toward a three-week minimum after American congressional leaders came to an agreement to fund the government via the fall, thus easing worries as for a shutdown of the federal government…
On Tuesday, crude prices traded weaker because a poll on Chinese manufacturing came in weaker than expected and market participants looked ahead to American inventories on oil as well as refined products to set the overall tone…