CryptocurrencyThe US Dollar Is Soaring While The GDP Contracts

The US Dollar Is Soaring While The GDP Contracts


Revisiting The Dollar Bitcoin Relationship

In more recent issues, we’ve highlighted that over the last few months, bitcoin’s price has been a function of larger macroeconomic conditions of rising yields and credit unwinding leading to increased equity market volatility and rising U.S. dollar strength.

As of late, the Dollar Currency Index (DXY) which tracks the relative strength of the U.S. dollar measured against other key global currencies, is hitting new 20-year highs as major currencies like the euro, Japanese yen and British pound continue to weaken. The latest rise comes as the Bank of Japan triples down on their yield curve control efforts, purchasing an unlimited amount of 10-year bonds every business day to cap yields at 0.25%. 



Original Source Link

Latest News

Why the Fed keeping rates higher for longer may not be such a bad thing

US Federal Reserve Board Chairman Jerome Powell arrives to testify at a House Financial Services Committee hearing on...

Renzo’s ezETH depegs to $688 following end of airdrop farming window

Despite the temporary price depeg, a trader made nearly $400,000 in profit due to the unfortunate incident. Original Source...

EU conducts ‘dawn raid’ on Chinese security equipment supplier

Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly...

How a tiny group of US lawmakers and aides wrote the TikTok ban bill, concealing their efforts to avoid TikTok's lobbying, alongside the DOJ...

New York Times: How a tiny group of US lawmakers and aides wrote the TikTok ban bill, concealing...

Donald Trump Has A Massive Pennsylvania Problem

The Pennsylvania presidential primary didn’t have any contested contests, but Trump managed to lose nearly 17% of the...

Must Read

President Biden Takes Historic Steps To Strengthen Title IX Protections

The Biden administration went beyond rolling back Trump’s...

Pluto’s heart-shaped basin might not hide an ocean after all

Rather than a vast ocean, Pluto’s heart might...
- Advertisement -

You might also likeRELATED
Recommended to you