Bitcoin plunges 6% to 38.2 thousand .. The dollar maintains its...


The dollar achieved its best weekly performance in a month, against other major currencies yesterday, as the global reserve currency maintained its strength amid a sell-off of riskier assets in the markets.
On the cryptocurrency front, Bitcoin fell 6 percent to $38,250, its lowest since August.
According to “Reuters”, investor sentiment has been affected in recent days by weak economic data, spreading inflation and concerns about the pace of the US Federal Reserve’s tightening of monetary policy.
The dollar index, which measures the performance of the US currency against six major currencies, fell 0.1 percent during yesterday’s trading to 95.655, but it achieved a 0.5 percent weekly increase, its best performance since mid-December.
Currencies, which are considered high-risk, including the Australian and New Zealand dollars, rose, while currencies that are seen as safe havens, such as the Japanese yen and the Swiss franc, rose.
The Australian and New Zealand dollars both fell more than 0.5 percent against the dollar, and in the latest trading they were $0.71860 and $0.67100.
The Swiss franc rose 0.4 percent to 0.91350 francs per dollar, while the yen rose 0.4 percent to 113,625 yen to the dollar. The yen was last up 0.1 percent, having lost some momentum.
The pound fell 0.2 percent against the dollar to 1.35635 dollars and 0.5 percent against the euro to 83.61 pence per euro.
In addition, gold hovered towards its highest level in two months yesterday, as inflation and geopolitical risks boosted the precious metal, which is considered a safe haven, while palladium is heading for its best week since March, thanks to strong demand.
And according to “Reuters”, the price of gold in spot transactions fell 0.2 percent to $ 1835.13 an ounce during trading yesterday. US gold futures fell 0.4 percent to $1,835.40.
Gold rose about 0.9 percent this week, after prices jumped to a two-month high of $1,847.72 on Thursday, as US 10-year Treasury yields fell.
Investors are now focused on the US Federal Reserve meeting scheduled for January 25-26, as it plans to raise interest rates to counter inflation.
The price of palladium in spot transactions jumped 0.8 percent to 2075.68 dollars an ounce, achieving weekly gains of more than 10 percent. Platinum rose 0.1 percent to $ 1040.40, on its way to its best week since last June.
While silver settled at $ 24.44 an ounce, to record the best weekly gain in a year, after rising 6.4 percent.





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