Experts: Bitcoin hasn’t reached rock bottom yet
Coming off the best trading marathon for crypto assets since late July, the world’s number one crypto currency, Bitcoin headed south on Monday…
US currency steadies, although affected by concerns over deficits
On Tuesday, the evergreen buck soared versus a group of key counterparts, clinging above its three-year minimum reached the previous week. Nevertheless, its outlook was heavily distorted by worries that the soaring American fiscal deficit could hurt the American the economy.
The dollar's index against six crucial rivals accounted for 89.347, which is approximately 1.2% higher than Friday's three-year minimum of 88.251.
The US currency has been diving for recent months, amid the positive impetus from soaring American interest rates compensated by a bunch of bearish factors.
Apparently, the view that other major financial institutions are going to catch up with the Fed as for tightening policy in 2018 was found a crucial reason for the greenback’s underperformance.
Suddenly Steven Mnuchin, US Treasure Secretary rekindled worries that America could pursue a weaker greenback policy, explaining it by the fact that its trade deficit tacked on to highest value for nearly a decade.
Soaring worries regarding the American budget deficit, anticipated to edge up to over $1 trillion next year in the face of a government spending splurge along with huge corporate tax reductions, have undermined the evergreen buck too.
Market experts tell that Donald Trump's tax trims as well as spending plans could result in an overheated economy, as it’s already firm, generating an unwanted leap in inflation.
Versus the Japanese yen, the evergreen buck managed to tack on 0.2% showing an outcome of 106.77, having rebounded from a 15-month minimum of 105.545 reached on Friday.
As for the common currency, it went down 0.2% hitting $1.2387, sinking from Friday's three-year maximum of $1.2556.
Hopes that the European Central Bank is on the verge of ceasing its stimulus have been the number one driving force behind the common currency’s surge since 2017.
Similar
US dollar moves down
On Monday, the evergreen buck lost versus its counterparts, suppressed by a stronger UK pound in the face of strengthening hopes of a UK-EU Brexit deal…
Key crypto assets leap
On Friday, Bitcoin as well as key crypto assets managed to ascend, thus finding themselves on track for back-to-back winning trading marathons…
Latest news
Forex today: easing geopolitical tensions
Safe havens such as gold and Japanese yen declined as investors sentiment was boosted by eased geopolitical tensions…
Common currency ascends ahead of euro zone data
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…
Greenback edges down
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…
Deposit with your local payment systems
