US Dollar: Supportive fundamentals offset deficit worries – Rabobank

Rabobank’s FX Strategy team argues that reduced fears of political interference at the Federal Reserve (Fed) and evidence of renewed safe-haven demand support the US Dollar (USD).

The Fed will hike, and the odds are rising

In reviewing the upcoming Fed meeting, the WSJ chose one of the many ways to fiddle with statistics— “consumer prices rose at a 3.7% annualized rate over the three months through October, up from a 1.6% rate for the three months through July.” This version is as good as any other.

Crypto drops 1.6% to $2.45T in a search for a bottom again

The crypto market capitalisation has fallen by more than 1.5% over the past 24 hours to $2.45T, hitting its lowest level since August. Cryptocurrencies, which had lagged significantly behind equities on Monday, failed to catch up on Tuesday and came under pressure.

The Japanese Yen is doing something it hasn't done in ten weeks

USD/JPY climbs above the 159.00 resistance level, extending its advance on Wednesday, and bringing the Japanese Yen (JPY) back toward its weakest levels in ten weeks amid renewed strength in the US Dollar (USD).

Euro falls to two-week low amid expectations of aggressive Fed rate hikes

EUR/USD extends losses for the second straight day, slipping to a two-week low during Wednesday's American trading hours.

Poland’s Sejm Clears Pre-Court Crypto Freezes in 240-202 Vote

Poland's Sejm voted 240-202 to let the interior minister freeze crypto assets before court review. The bill goes to the Senate, then President Nawrocki.

The post Poland’s Sejm Clears Pre-Court Crypto Freezes in 240-202 Vote appeared first on Forex Crunch.

OCC grants Coinbase full national trust company charter

The OCC granted Coinbase a full national trust bank charter, moving its institutional custody business under direct federal supervision with a three-year migration plan.

The post OCC grants Coinbase full national trust company charter appeared first on Forex Crunch.

Nigeria tells stablecoin issuers: get licensed or leave

Nigeria's central bank has issued a licensing framework for stablecoin issuers: capital minimums, full reserve backing and a window for existing operators.

The post Nigeria tells stablecoin issuers: get licensed or leave appeared first on Forex Crunch.

CFTC gives exchanges 30 days to end geographic access restrictions

The CFTC has ordered designated contract markets to end domestic geographic access restrictions within 30 days under its Impartial Access Requirements interpretation, or explain why they cannot comply.

The post CFTC gives exchanges 30 days to end geographic access restrictions appeared first on Forex Crunch.

Bitcoin falls to seven-week low as over $1 billion in crypto longs liquidated

Bitcoin fell below $76,000 to a seven-week low as over $1.1 billion in long positions were liquidated and spot Bitcoin ETFs bled outflows.

The post Bitcoin falls to seven-week low as over $1 billion in crypto longs liquidated appeared first on Forex Crunch.