Bitcoin prices continued to fall sharply on Wednesday, skidding more than 7% and leaving many investors worried about the obstacles regulators might face on assets that have risen in value last year, amid South Korea’s finance minister’s statement that banning cryptocurrency trading was still an option. Bitcoin had lost 16 percent on Tuesday, during which it fell to a month and a half’s low of $10,162.00.
The US dollar fell against most other currencies to its lowest level in three years before some recent recovery appeared. The dollar index against a basket of six major currencies is trading near 90.45 levels from 90.11, it’s lowest since December 2014.
In the same context, the euro fell during today's trading to reach 1.22 levels against the US dollar. Data from the European Union’s statistics office Eurostat showed that inflation slowed last December, and that consumer prices rose YOY 1.4%, down from 1.5% in November. Inflation rose by 0.4% MOM.
Markets are currently waiting for the Bank of Canada’s rate decision in its first meeting in 2018. As Canada's economic situation has improved in recent times, the central bank is expected to raise the benchmark rate again from 1.00% to 1.25%, the last time such a decision was made was at last September's meeting. The decision is accompanied by a rate statement and a monetary policy report. It gives more details about the direction of the bank and its economic forecasts.
