Dollar steady, bitcoin holds gains before ETF approval deadline

London, Jan. 9 (BNA): A decline in U.S. consumer inflation expectations kept the dollar rally in check on Tuesday as traders reaffirmed their bets for a slew of Federal Reserve rate cuts this year.

 

In cryptocurrencies, bitcoin held near its strongest level since April 2022 on growing anticipation the Securities and Exchange Commission will imminently approve spot bitcoin exchange-traded funds (ETF), Reuters reported.

 

The New York Fed’s latest Survey of Consumer Expectations showed on Monday that U.S. consumers’ projection of inflation over the short run fell to the lowest level in nearly three years in December.

 

 

A reading on U.S. inflation is due later in the week, which will likely provide further clarity on how much room the Fed has to ease rates this year.

 

 

 

ZH