Bitcoin

Powell Testimony: DXY breaks 105, BTC down to 22k as support, new peak rate of 5.60% in futures market

03/07/2023
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Quick Take

  • Powell spoke before the senate on March 7
  • Powell: New data suggests “the ultimate level of rates is likely to be higher than previously anticipated.”
  • “If the totality of the data were to indicate that faster tightening is warranted, we would be prepared to increase the pace of rate hikes.”
  • DXY breaks 105, while other major currencies break down, GBP hits a new low of 1.18
  • The new peak rate is 5.60% in the futures market, while 50 bps is the preferred choice for markets for the upcoming FOMC meeting in March.
Currencies: (Source: Trading View)
Currencies: (Source: Trading View)
Meeting Probabilities: (Source: CME Fed Watch Tool)
Meeting Probabilities: (Source: CME Fed Watch Tool)
Meeting Probabilities: (Source: CME Fed Watch Tool)
Meeting Probabilities: (Source: CME Fed Watch Tool)

The post Powell Testimony: DXY breaks 105, BTC down to 22k as support, new peak rate of 5.60% in futures market appeared first on CryptoSlate.

Source: https://cryptoslate.com/insights/powell-testimony-dxy-breaks-105-btc-down-to-22k-as-support-new-peak-rate-of-5-60-in-futures-market/