Weekly Cryptonews
What news has been happening in the crypto market this week?
Greenback is backed by US tax bill progress
On Monday, the US currency rallied versus a basket of the other key currencies right after the US Senate successfully passed a tax bill at the weekend, thus spurring expectations for a faster tempo of rate lifts from the major US bank.
The evergreen buck was underpinned by hopes that tax cuts for corporations are going to back the American economy, and also push Treasury yields up because the US government becomes more dependent on debt thanks to reduced tax income.
Market participants were still cautious amid worries over the everlasting Russia probe, reacting to Friday’s reports that ex-national security adviser Michael Flynn is ready to testify against US President Donald Trump in the long-lasting investigation.
The US currency gained ground against the Japanese yen. USD/JPY inched up 0.64% hitting a two-and-a-half week maximum of 112.91.
The common currency dived versus the greenback, with EUR/USD decreasing 0.23% being worth 1.1868.
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The British pound continues to go down as political risks intensify.
A lot of political uncertainties are driving the British pound down.
The USD may be supported by the releases
The United States anticipates the release of headline and core durable goods orders on May 24, at 15:30 MT time.
Latest news
Gold heads south on tumbling greenback
On Monday, gold declined notwithstanding a lower American currency because data underpinned hopes for a Fed interest rate lift…
European equities conclude in positive territory for the fifth consecutive week
On Friday, European stock indices fluctuated at the beginning of the trading session…
RBNZ Meeting
The Reserve Bank of New Zealand will hold a meeting at 00:00 MT time on August 9.
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