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USD Pauses to Refresh Ahead of Fed Speak

#dollar #Fed #cryptocurrencies #bitcoin #ether


USD paused Tuesday as traders looked to testimony from Fed Chairman Powell for guidance, while cryptocurrencies seeing losses.

Against EUR, USD saw overnight loss of about 0.4% to steady around 1.1909. It held at 110.31 , and .DXY was steady at 91.915 after a loss of about 0.5% Monday.

The Australian and New Zealand dollars eased after snapping losing streaks on Monday with the Aussie down 0.2% to 0.7527 and the kiwi down 0.15% to 0.6978.

GBP sterling steadied at 1.3917, holding on to its overnight bounce as investors look forward to the British economy reopening further on 19 July.

Bitcoin and other cryptocurrencies had slumped on Monday as a tightening crackdown on trading and mining in China, as well as technical factors, whacked the asset class.

Bitcoin lost more than 11% Monday and ether fell more than 15% as both suffered their sharpest selloff in about a month. Tuesday they held above May lows, with bitcoin at 31,535.

Have a happy day, Keep the Faith!

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Paul A. Ebeling, a polymath, excels, in diverse fields of knowledge Including Pattern Recognition Analysis in Equities, Commodities and Foreign Exchange, and he is the author of "The Red Roadmaster's Technical Report on the US Major Market Indices, a highly regarded, weekly financial market commentary. He is a philosopher, issuing insights on a wide range of subjects to over a million cohorts. An international audience of opinion makers, business leaders, and global organizations recognize Ebeling as an expert.