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Foreign Exchange Analysis Headlines

Venezuela aims for crypto alchemy with new 'petro gold' token

Venezuela is preparing a new cryptocurrency called "petro gold" that will be backed by precious metals, President Nicolas Maduro said on Wednesday, a day after launching an oil-backed token that has been panned as a pipe dream by blockchain experts.

MPs launch inquiry into cryptocurrencies

Britain's cross-party Treasury Select Committee of lawmakers on Thursday said it is launching an inquiry into digital currencies, as well as the underlying distributed ledger technology.

Dollar rises as Fed minutes back more U.S. rate increases

The dollar rose to a more than one-week peak on Wednesday, extending its recovery from last week, helped by higher short-term Treasury yields, and as minutes of Federal Reserve's January meeting showed policymakers confident in the need to keep raising interest rates.

Bitcoin nearly doubles in value from year's low hit in early February

Bitcoin hit a three-week high on Tuesday and has surged nearly 100 percent from its lowest level this year, as its recovery continued after South Korea's financial regulator eased its stance on cryptocurrencies, weeks after it considered shutting down digital currency exchanges.

Sterling slips ahead of key wages numbers

Sterling fell against the dollar on Tuesday as the U.S. currency rebounded from recent lows, while traders said they were looking to crucial British earnings data due later this week that could help cement bets the central bank will hike rates in May.

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