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.
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/