Federal Reserve (Fed) chair Jerome Powell delivered his speech at the Economic Club of New York, indicating that data over recent months has shown growing progress in both of the committee’s mandates – maximum employment and price stability.
His comments were interpreted as mildly dovish and the US Dollar (USD) sold off as a result. Bitcoin, which is negatively correlated to the USD, saw marginal gains, trading a tenth of a percentage point higher, just above $28,600 at the time of writing. #ContentStar
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Federal Reserve (Fed) chair Jerome Powell delivered his speech at the Economic Club of New York, indicating that data over recent months has shown growing progress in both of the committee’s mandates – maximum employment and price stability.
His comments were interpreted as mildly dovish and the US Dollar (USD) sold off as a result. Bitcoin, which is negatively correlated to the USD, saw marginal gains, trading a tenth of a percentage point higher, just above $28,600 at the time of writing.
#ContentStar