US dollar reverses direction and posts daily peak after Powell's message

Posted 27 February, 2018

After losing grounds lately, US dollar has peaked vs the majors over the day driven by the long-awaited speech of Federal Reserve Chairman Jerome Powell. According to Powell's statement, as before US Bank sticks to the policy of gradual interest rate increase, though the size of the revision is restrained by the current economic reports in the country.

The US Dollar index improved 0.25% to 89.98.

In his speech, Jerome Powell noted that the Federal Reserve will keep lifting interest rates step-by-step for securing stable economic situation in light of higher-pace growth and inflation.

“The economic outlook remains strong...Further gradual increases in the federal funds rate will best promote the attainment of both of our objectives,” he commented.

Meanwhile, considering the economic reports, the January figures on US durable goods orders turned to be the lowest over the half-year – 3.7% down m-o-m in January, according to the reports.

The greenback improved position vs the yen reaching 107.10.

The European currency plunged today to 1.2286, followed by the sterling coming down to 1.3913.

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28 February, 2018 16:01

← Cryptocurrencies lose grounds with US regulator next moves and Craig Wright case

In the course of Wednesday bitcoin and other main cryptocurrencies have trimmed gains, after American authorities announced their position towards bitcoin futures. "Workers can trade digital tokens as long as they don’t buy them on margin or have inside information gleaned from their jobs. Investing in bitcoin futures that the CFTC controls, however, is barred," the news report reads.

Cryptocurrencies lose grounds with US regulator next moves and Craig Wright case

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27 February, 2018 16:18

Bitcoin price looks for $11,000 mark amid Poloniex acquisition by Circle →

Once Circle announced an acquisition of the Poloniex, bitcoin price has practically reached the $11,000 mark on Tuesday. On the Bitfinex, the major cryptocurrency was recorded at $10,850.00 and keeps the upward movement. Earlier, the coin touched the bottom at $10,140.00 over the night. Ethereum price moved up to $882.12 on the Bitfinex.

Bitcoin price looks for $11,000 mark amid Poloniex acquisition by Circle
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