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PREDICTING THE DIRECTION OF BTC IN THE SHORT TERM
Atlanta Fed President Rafael Bostic said there was no need for the U.S. central bank to raise interest rates any further. The benchmark 10-year U.S. Treasury bond fell to an intraday low of 4.618%, from Monday's high of 4.887%.
U.S. Treasuries rebounded, with the two-year bond yield hitting its lowest level in a month. This is largely due to increased demand for safe havens in the wake of continued bloodshed in the Middle East and dovish rhetoric from the Federal Reserve.
The euro rose 0.3% against the dollar to $1.0604. Meanwhile, the DXY Dollar Index, which measures the US currency against six other currencies, fell about 0.19% to 105.75. This is well below last week's high of 107.34.
Traders are awaiting the latest Fed policy developments and key US inflation data due tomorrow. Investors are also keeping an eye on the conflict between Israel and the Palestinian Islamic militant group Hamas, but purchases of the dollar, originally a safe-haven asset, have been suspended.
U.S. Treasuries rebounded, with the two-year bond yield hitting its lowest level in a month. This is largely due to increased demand for safe havens in the wake of continued bloodshed in the Middle East and dovish rhetoric from the Federal Reserve.
The euro rose 0.3% against the dollar to $1.0604. Meanwhile, the DXY Dollar Index, which measures the US currency against six other currencies, fell about 0.19% to 105.75. This is well below last week's high of 107.34.
Traders are awaiting the latest Fed policy developments and key US inflation data due tomorrow. Investors are also keeping an eye on the conflict between Israel and the Palestinian Islamic militant group Hamas, but purchases of the dollar, originally a safe-haven asset, have been suspended.
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