Bitcoin prices edge closer to $60K, GBP/USD hits two-week high on BOE rate hike uncertainty [Video]
|Bitcoin prices edge closer to $60,000
Prices of Bitcoin, continued to trade close to a 5-month highs in today’s session, as it is expected that the SEC will shortly approve a EFT product.
The world’s largest cryptocurrency rallied to an intraday high of $58,488 on Wednesday, its highest level since May.
Bitcoin prices have climbed by as much as $13,000 so far in October, after dropping to as low as $39,000 in September.
Recent rallies in BTCUSD have come as markets expect the US Securities and Exchange Commission to approve a ETF for Bitcoin within the fortnight.
Many believe that prices could surpass its all-time high of over $65,000 with that time frame.
GBPUSD hits 2-week high on BOE rate hike uncertainty
GBPUSD hit a 2-week high in today’s trading session, as markets reacted to comments from a policymaker from the BOE.
The Bank of England member Silvana Tenreyro was speaking regarding the potential for a near-term rate hike, due inflation concerns.
In her comments Tenreyro stated that, "Typically, for short-lived effects on inflation, such as the big rises in the prices of semiconductors or energy prices, it would be self-defeating to try to respond to their direct effects".
The comments from Tenreyro, who is seen as a dovish member of the bank, sent GBPUSD to an intraday high of 1.3734, its highest level since September 27th.
London’s FTSE 100 rallied on the news, closing 0.92% higher.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.