Bitcoin (BTC) came under renewed pressure after geopolitical tensions resurfaced and the Federal Reserve (Fed) struck a more hawkish tone, according to a Wintermute report on Tuesday.
Societe Generale analysts expect the Hungarian central bank Magyar Nemzeti Bank (MNB) to cut rates by 25 bps to 6.0%, citing improved sentiment after Peter Magyar’s election victory and an EU-friendly policy stance.
EUR/USD held ground after registering modest losses in the previous day, trading around 1.1430 during the European hours on Tuesday. However, the pair withdraws its daily gains following the release of HCOB Purchasing Managers Index (PMI) data from Germany.