Bitcoin (BTC) regains momentum, trading above $122,000 on Wednesday, following a sharp pullback the previous day. Altcoins, including Ethereum (ETH) and Ripple (XRP), are holding steadily above key support levels, as bulls look forward to recouping the losses incurred on Tuesday.
The US Dollar is going through a spectacular rally against a weak Japanese Yen this week.
NZD/USD dropped 1% to a six-month low near 0.5740 after the Reserve Bank of New Zealand surprised markets with a 50bps cut to the Official Cash Rate, now at 2.50%. The central bank signaled it remains open to further reductions, citing spare capacity and downside risks to activity and inflation.