Business News Asia
Bitcoin reaches the $20,000 mark and benefits from the devaluation of the dollar.
Bitcoin rose 3.14% this morning to $20,189.21.
The dollar index against the six major currencies in a basket of currencies fell 1.5% to 110.0690, while the yield on the 10-year U.S. Treasury bond fell to 3.581%.
Bitcoin continues to hover around the $20,000 mark and has been unable to show an upward trend since the Fed began raising interest rates.
The CME Group’s FedWatch Tool indicates that investors are 58.5% confident that the Fed will raise rates by 0.75% to between 3.75% and 4.00% at its November 1-2 meeting.
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Wednesday, October 5, 2022