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A PayDepot Bitcoin ATM machine in Union City, New Jersey | REUTERS
Reuters May 20, 2021
NEW YORK/LONDON – Cryptocurrencies that seemed to be defying gravity just weeks ago came back down to earth with a bump Wednesday after a roller-coaster ride that could undermine their potential as mainstream investments.
The two main digital currencies, bitcoin and ether, fell as much as 30% and 45% respectively, but significantly pared losses after two of their biggest backers Tesla Inc. chief Elon Musk and Ark Invest’s Chief Executive Cathie Wood indicated their support for bitcoin.
U S Treasury Calls For IRS Reporting Of $10K+ Crypto Transfers newsbtc.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from newsbtc.com Daily Mail and Mail on Sunday newspapers.
ChinaFed rhetoric restrains dollar as traders eye inflation
Tom Westbrook
4 minute read
The U.S. dollar hovered near its lowest levels of the year on Wednesday as traders hung on to bets that the Federal Reserve would remain steadfast in its easy policy settings ahead of data expected to show a sharp rise in annual U.S. inflation.
Analysts forecast figures due at 1230 GMT to show a 3.6% lift in year-on-year prices, boosted by last April s low base. The month-on-month forecast is for a modest 0.2% rise.
Higher numbers might add pressure on the Fed to bring forward rate rises, a worry which has contributed to a selloff in rate-sensitive tech shares this week. But currency markets have been soothed by repeated promises of patience from Fed speakers and the dollar has been pressured by gains in commodity currencies.
FOREX-Fed rhetoric restrains dollar as traders eye inflation Reuters 3 hrs ago By Tom Westbrook Graphic: World FX rates https://tmsnrt.rs/2RBWI5E By Tom Westbrook SINGAPORE, May 12 (Reuters) - The U.S. dollar hovered near its lowest levels of the year on Wednesday as traders hung on to bets that the Federal Reserve would remain steadfast in its easy policy settings ahead of data expected to show a sharp rise in annual U.S. inflation. Analysts forecast figures due at 1230 GMT to show a 3.6% lift in year-on-year prices, boosted by last April s low base. The month-on-month forecast is for a modest 0.2% rise. Higher numbers might add pressure on the Fed to bring forward rate rises, a worry which has contributed to a selloff in rate-sensitive tech shares this week. But currency markets have been soothed by repeated promises of patience from Fed speakers and the dollar has been pressured by gains in commodity currencies. The greenback touched its weak
The billionaire Interactive Brokers founder and chairman made his comments on Squawk Box shortly after April s hotter-than-expected consumer price index data was released. Whenever I hear numbers like this I look back to my childhood growing up in Hungary, where I was playing with . billion forint notes, so value of money meant nothing, said Peterffy, who emigrated from Hungary to the U.S. in 1965. The forint is Hungary s official currency. I m very worried this is an unstoppable situation because the longer the Fed waits, the more they will have to raise the rates, Peterffy added, which he said could in turn make servicing U.S. government debt more challenging. So, we basically are painting ourselves into a box, and I don t see how we re going to get out of it.