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Bitcoin at new heights
Facebook’s announcement of the launch of its new digital currency “Libra Coin” is spurring on cryptocurrencies in general. The primary rock among the cryptocurrencies, Bitcoin, benefited from this demand. Over the weekend, the digital currency gained significantly. With rates above US$9000, the Bitcoin continued its recovery from last week. Among other things, a report in Friday’s[…]
Sterling on the ropes ahead of next round of Tory leadership battle
The British pound slumped to its weakest trading level against the U.S Dollar since January 3rd on Monday, as traders became increasingly nervous about the prospect of Boris Johnson becoming the next British Prime Minister. Boris Johnson’s preference towards a hard-Brexit scenario if the United Kingdom fails to reach a deal with the European Union[…]
Federal Reserve expected to move away from patient stance this week
The U.S Dollar faces a pivotal week on the foreign exchange market, as the Federal Reserve is widely tipped to adopt an easing bias when they meet to decide on U.S interest rates this Wednesday. United States policymakers are expected to cast aside the current wait-see-aside approach and lay out the case for a series[…]