2 days ago · Bitcoin on Monday was off Sunday's record high of $34, at $32, An enormous rally has carried it up % since March as institutional investors . 2 days ago · The yuan rocketed to a two-and-a-half-year high. "The U.S. dollar slipped further through the threshold of the new year as global risk sentiment stayed buoyant", said Alvin Tan, an FX strategist at. Aug 20, · Bitcoin & CryptoCurrency Is The Gold Rush Of This Generation By J.K. Diego August 20, August 28, Money. Share Tweet. FOREWORD (If you’re just here to find out how to purchase Binance Coin (BNB), skip to the last section.) My mentor Alvin Tan puts it this way (paraphrased).
Alvin tan bitcoinUS dollar softens against most majors, Companies & Markets - THE BUSINESS TIMES
The dollar index touched a low of The Chinese yuan rose to 6. That could push the yuan's value higher against its peers this year, analysts said, while Chinese factory activity continued to accelerate in December. The euro, which had dipped on New Year's Eve profit-taking, rose 0. IHS Markit economist Phil Smith said the latest data showed German manufacturing continued to power on at the end of the year.
Also, a closely watched gauge of growth in British manufacturing activity rose to its highest level in three years as factories rushed to complete work before the end of the post-Brexit transition period on Dec. The safe-haven yen rose 0. It was last down 6. Markets Dollar extends losing streak amid upbeat sentiment; yuan shines Dollar softens against most majors; virus worries lift yen. China's yuan soars. Focus turns to Georgia Senate race.
The US dollar held near mid lows on Monday as bullish sentiment across global markets prompted investors to buy riskier currencies such as the Chinese yuan, despite a resurgent pandemic. Low US interest rates, massive US budget and trade deficits and a belief that rebounding world trade will drive non-dollar currencies higher have set the dollar on a downward course.
The dollar index posted its first annual loss since last year. It was last 0. Manufacturing activity expanded in Japan, South Korea and Taiwan, according to PMI surveys, the latest indication that manufacturers in the region continue to recover from the damage caused by the Covid pandemic last year.
The Chinese yuan rose over 0. Chinese factory activity continued to accelerate in December, though the PMI missed forecasts at The safe-haven yen rose 0. The softening dollar boosted commodity prices and pushed bitcoin as well as several Asian currencies to milestone highs.
The Australian and New Zealand dollars each gained close to 0. The euro, which had dipped on New Year's Eve profit-taking, rose 0. Investors are now focused on a runoff election in the US state of Georgia on Tuesday that will determine control of the Senate. Jeffrey Halley, a market analyst at Oanda warned his clients against sharp moves in the dollar after that election.
Minutes of the Federal Reserve's December meeting due on Wednesday should offer more detail on discussions about making the Fed's forward policy guidance more explicit and the chance of a further increase in asset buying this year.
The data calendar includes manufacturing surveys across the globe, which will show how industry is coping with the spread of the coronavirus, and the closely watched ISM surveys of US factories and services.