The dollar ended the week on a softer note, ceding ground to the euro, pound and yen as risk appetite showed signs of stabilization. The move came amid a backdrop of steady gains in crypto markets, with Bitcoin’s dominance reaching 55.8% and the total market cap inching 0.5% higher.
FX under pressure. The dollar lost 0.427% against the euro, with USD/EUR slipping to 0.87352. The pound also gained ground, with USD/GBP falling 0.363% to 0.74878. The yen, meanwhile, strengthened 0.266% against the greenback, with USD/JPY at 161.15. The moves suggest a broader shift in sentiment, with investors rotating out of safe-haven assets.
Crypto steadies. Bitcoin’s price rose 0.67% to 63059 USD, while Ethereum gained 0.61% to 1772.77 USD. The gains came as Bitcoin’s dominance surged, with the world’s largest cryptocurrency accounting for more than half of the total market cap. The steadying in crypto markets came despite a lack of major catalysts, with traders focusing on macroeconomic developments. Data via ECB (Frankfurter) + CoinGecko.
Next week, all eyes will be on central bank policy decisions and key economic data releases.
This content is informational and does not constitute financial advice.
