Bitcoin falls 3% as Treasury yields rise
Bitcoin dropped 3% to $83,098 as traders cited record-high Treasury yields and a stronger U.S. dollar. Ethereum, XRP and solana also fell in the same market move.
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Bitcoin dropped 3% to $83,098 as traders cited record-high Treasury yields and a stronger U.S. dollar. Ethereum, XRP and solana also fell in the same market move.
Commerzbank's Antje Praefcke says the euro is unlikely to rebound soon because of concern over France's public finances. The euro fell 0.7% to $1.1181 after touching a 16-month low of $1.1160 on Monday.
Commerzbank said the euro is unlikely to bounce soon, citing worries about France’s public finances. The euro was down 0.7% to $1.1181 after hitting a 16-month low of $1.1160 Monday.
The dollar's recent advance could continue if the Fed minutes show broad support for further rate hikes, according to Infinox's Thadeu Dos Santos. A more cautious readout could reverse the move, while Thursday's jobless claims report is also seen as a possible catalyst.
The roundup says the Swiss franc remains supported by safe-haven demand, while sterling and gilt yields rise on expectations for Bank of England policy tightening and ahead of the U.K. budget. It also notes euro weakness tied to French fiscal concerns and a Treasury auction under close watch.
The euro dropped to its lowest against the pound since June last year, weighed down by concerns over France’s deepening fiscal crisis and fresh political risks in the region.
The euro hit a 17-month low below $1.12 as fears of contagion from rising French borrowing costs spread across the euro area. The gap between French and German government bond yields widened to its highest since the euro debt crisis.
The euro hit 17-month lows below $1.12, down over 4% this year, as fears grow of contagion from rising French borrowing costs spilling into the broader euro area. The French/German yield gap is near its widest since the euro debt crisis, with Italian bond yields also wider.
Germany’s 10-year Bund yield fell to 3.412%, its lowest level since September 8, extending the decline for a fifth consecutive session as investors sought the relative safety of German government debt. Demand has been supported by renewed concerns over sovereign risk in the Eurozone, particularly following last week’s
The euro depreciated sharply on Monday, reaching a 17-month low as fiscal concerns in France, following a significant bond market rout, fueled contagion fears within the region. This weakness in the euro helped the U.S. dollar strengthen, despite softer-than-expected U.S. jobs data that had previously tempered near-ter
The euro declined against the dollar during Asian trading hours due to mounting concerns regarding France's fiscal health, ongoing budget deficits, and political instability. These issues have led to a widening of the spread between French OAT bonds and German bunds.
Germany's 10-year yield fell 4 basis points to 3.6% after hitting a 17-year high on Monday. France's 10-year yield stayed near an 18-year high and the spread over Germany widened to 117 bps.
Germany's 10-year yield fell 2 basis points to 3.624% after hitting a 17-year high on Monday. Money markets still price almost four more quarter-point ECB hikes.