London Wrap: crypto sinks as the dollar grinds higher
Crypto led a broad risk-off London session, with Tezos and Polkadot down 7.6% and the dollar firming against the euro, pound and Nordic currencies.
Crypto led a broad risk-off London session, with Tezos and Polkadot down 7.6% and the dollar firming against the euro, pound and Nordic currencies.
Sterling drifted lower across every pair in our feed after BOE Gov Bailey spoke at 12:15 UTC, with GBPJPY leading a muted 0.045% slide.
Crypto leads markets lower as every top faller is a token, while the dollar firms against the euro, pound and Aussie and metals slide.
US stocks closed higher with the S&P 500 at 7,826 as crude firmed near $100; crypto lagged, with UNIUSD down 5.75% and bitcoin easing to 85,559.
Uniswap led the reaction to the Fed's FOMC Meeting Minutes, with UNIUSD down 0.70%, while Polkadot and The Graph firmed and other majors held.
The Nikkei leads the open at 70,824.86, up 1.21% and 47.93% on the year, as the dollar softens across the majors and crypto turns broadly red.
The Fed's FOMC meeting minutes at 18:00 UTC headline the next 24 hours, preceded by a scheduled address from President Trump at 17:00 β both USD events.
US stocks closed firmer β S&P 500 +0.58%, Nasdaq 100 +0.64% β as Cardano led crypto gainers while crude oil slid over 1.5% into the New York close.
Oil fell nearly 2% as European equities split β IBEX +1.03%, CAC -0.84% β while crypto stretched to extremes: Cardano +3.51%, Stellar -3.61%.
BOJ Governor Ueda spoke at 06:35 UTC and the yen reacted modestly. EURJPY led as the yen eased against the euro, while USDJPY and CHFJPY held steady.
Cardano jumps 3.51% and Polkadot 2.58% as crypto splits, Stellar down 3.61%; the dollar holds firm, Asian indices lead and crude slips.
BOJ Governor Ueda speaks at 06:35 UTC, today's high-impact event for the yen. Canada's Ivey PMI follows at 14:00 UTC, seen at 65.2 vs 64.3.