Is the winter of cryptomarket finally over? Or do we get ahead of ourselves when making this statement?
Evergreen buck sags versus most currencies of developed nations
On Thursday, the major American currency kept sinking versus most currencies of developed nations including the common currency and the Japanese yen notwithstanding the decision of the Federal Reserve to have the cost of lending lifted.
Among the currencies of the key developing countries, the evergreen buck managed to tack on only against the Turkish lira and the Russian ruble.
Following the outcomes of the June gathering, the Federal Reserve had its benchmark interest rate lifted by 0.25% as expected. According to Fed Chair Jerome Powell, the rate lift actually reflects the perfect state of the American economy. Powell pledged that the leadership of the key US bank would keep closely watching the fact that the tightening of the DCT didn’t take place too quickly.
Simultaneously, the forecasts of the leaders of the Fed came with signals about two more rate lifts by the end of this year.
In addition to this, the Australian dollar turned out to be cheaper against all key currencies because of dismal data on the labor market. As a matter of fact, the number of employed in Australia edged up by approximately 12 thousand in May, and on average analysts expected a jump of 19 thousand, unemployment went down from 5.6% to 5.4%.
The common currency managed to ascend against the greenback hitting $1,1808 in contrast with $1,1791 at the close of previous trading session. Previously, the common currency soared 0.4% in this pair.
The evergreen buck went down against the Japanese yen reaching 109.99 yen in contrast with 110.34 yen demonstrated earlier. The major American currency declined by 0.1% versus the Swiss franc and also 0.15% against the UK currency.
The common currency dived versus the Japanese yen hitting 129.89 yen compared to the previous reading of 130.11 yen.
On Thursday, the major US currency rebounded from its unexpected dive following dismal economic data that sparked fears about the strength of the American economy and also backed the Fed’s intention to leave rates on hold in the nearer future…
On Thursday, Bitcoin was still below the psychologically crucial $4,000 mark without any clear driver…
Safe havens such as gold and Japanese yen declined as investors sentiment was boosted by eased geopolitical tensions…
On Tuesday, the euro tacked on because market participants waited for reports on inflation and growth in the euro zone, while the Japanese yen went down after Japan’s major bank told it would be more flexible in its huge stimulus program…
On Tuesday, the evergreen buck dived because the common currency bounced off and the UK pound managed to ascend to the day’s maximums reacting to reports that British Prime Minister Theresa May is going to take control of Brexit talks…