UK Treasury Select Committee to launch cryptocurrency inquiry - Reuters

Joshua Gibson FXStreet

The UK's Treasury Select Committee, a bipartisan group of MPs from both sides of the line, is set to begin an official inquiry into cryptocurrencies and blockchain technology, according to a UK statement.

Key highlights:

TSC looking at crypto markets and underlying distributed ledger technology.
Focus on opportunities, risks posed to consumers, businesses, and the government.
"People are becoming increasingly aware of cryptocurrencies...they may not be aware that they are currently unregulated in the UK... no protection for individual investors," Nicky Morgan, chair of the Treasury Committee
Committee will collect evidence, submit a report with recommendations to government.
Statement comes on heels of Mark Carney decrying Bitcoin "a failed currency".

Author

Joshua Gibson

FXStreet

Joshua joins the FXStreet team as an Economics and Finance double major from Vancouver Island University with twelve years' experience as an independent trader focusing on technical analysis.

GBP/USD gathers strength above 1.3350, but stays capped below 100-day average

The GBP/USD pair trades in positive territory around 1.3360 during the early European session on Friday. The British Pound gathers strength against the US Dollar on a weaker-than-expected US Nonfarm Payrolls report.

EUR/USD trades cautiously higher near mid-1.1400s amid mixed setup

The EUR/USD pair attracts some dip-buyers during the Asian session on Friday, stalling the previous day's modest pullback from the 1.1470-1.1475 region, or a nearly two-week high. Spot prices currently trade just below mid-1.1400s and seem poised to register gains for the first time in three weeks as receding US Federal Reserve rate hike bets keep the US Dollar depressed.

Gold advances to $4,200 neighborhood amid reduced Fed hike bets

Gold is seen building on this week's recovery move from its lowest level since November 2025 and gaining positive traction for the third straight day. The precious metal advances to the $4,200 neighborhood, or a one-and-a-half-week high, during the Asian session and remains on track to register gains for the first time in five weeks.

Bitcoin and Ethereum rebound as bulls return, XRP targets breakout

Bitcoin, Ethereum and Ripple extend their recovery on Friday as improving risk sentiment and strengthening technical indicators support the broader cryptocurrency market. BTC reclaims the $61,300 level after rebounding from a 21-month low earlier this week, while ETH holds firm near $1,700 following a sharp two-day recovery.

Economics week ahead

Market attention turns to next week's FOMC minutes for any signs of what could shift a divided Committee from a hold toward rate hikes. The dot plot from the last meeting made clear that policymakers are split on whether rate hikes are warranted, but with forward guidance getting tamped down under Chair Warsh, the Fed's reaction function remains uncertain in terms of what exactly would build broader support for more restrictive policy.

Kevin Warsh offers no policy clues: Why markets still got their answer

Financial markets came to Sintra looking for clues about the Federal Reserve's (Fed) next move. They largely left with confirmation that Fed Chair Kevin Warsh intends to make those clues much harder to find.