Scott Bessent

Treasury Secretary Scott Bessent argued that the U.S. economy remains resilient, pointing to the dollar’s central role in foreign exchange and stablecoins. His comments come as the 10-year Treasury yield reaches 5% and debate intensifies over buybacks, debt management and global payment rails.

The U.S. Treasury has sanctioned Tehran-based crypto exchange BitBank and its software developer over alleged Bitcoin transfers linked to Iran’s Revolutionary Guard Corps. Officials said the exchange also processed some payments connected to safe-passage fees charged to tankers crossing the Strait of Hormuz.

The Bank of Japan lifted its benchmark interest rate by 25 basis points, taking it to the highest level in 31 years as inflation risks remain in focus. Bitcoin climbed above $77,000 while the yen weakened against the dollar, underscoring the complex market reaction to Japan’s latest tightening step.

AUD/USD has pulled back toward its 50-day moving average as traders price in a possible Federal Reserve rate hike at the September meeting. Key levels around 0.7000 and 0.7200 remain central as rising bond yields, oil-market stress and RBA expectations shape near-term direction.

The Digital Asset Market Clarity Act is approaching a possible Senate vote with its path still deeply uncertain. Crypto market participants are watching whether lawmakers can clear a procedural hurdle, delay the vote, or push the bill into another legislative vehicle.

EUR/USD traded near 1.1630 as markets looked ahead to the European Central Bank’s rate decision and key US inflation releases. Technical traders continue to watch 1.1715 on the upside and 1.1550 as a key downside level over the next 1-2 days.

Bitcoin is outperforming gold even as both assets rise on concerns that heavily indebted governments may rely on currency debasement to manage fiscal pressure. The bitcoin-to-gold ratio has climbed to 18.17, its highest level since January, meaning one BTC now buys a little more than 18 ounces of gold.

Bitcoin’s programmatic monetary policy is back in focus as uncertainty builds around Japan’s interest-rate path and the yen. FXCOINZ examines why a sharp yen rebound could still pressure crypto even as Bitcoin’s long-term supply case remains intact.

USD/ZAR is hovering near the psychologically important 16.00 level after a sharp move lower driven by broad US dollar weakness. Traders are watching 16.03400 resistance, 16.00010 support, and the Jackson Hole Symposium for the next major catalyst.

Ray Dalio says investors should hold a bit of Bitcoin and allocate about 10% to 15% of a portfolio to gold as protection against rising government debt and potential currency devaluation. The Bridgewater Associates founder warns that weaker demand for U.S. debt could lift interest rates or push the Federal Reserve toward money creation and bond buying.

The U.S. dollar remains under pressure after expanded Treasury buybacks helped pull longer-term yields lower, reducing a key source of support for the greenback. EUR/USD and GBP/USD are holding firmer as traders weigh ECB rate expectations, UK inflation, and mixed central bank signals.

Gold pushed toward $4,540 as Treasury buyback signals helped ease pressure on longer-term yields and strengthened demand for precious metals. Silver remains supported after its breakout above $64, with traders focused on the $72 resistance zone as the next major trigger.

Bitcoin rallied to its highest level since June 2 as ETF demand, lower long-term bond yields and renewed crypto policy discussions supported risk appetite. Technical traders are watching 65,000 as the key support level and 72,000 as the next upside target.

The US dollar came under renewed pressure on August 20 as expanded Treasury buybacks helped drive longer dated yields lower. EUR/USD and GBP/USD pushed higher as traders weighed Federal Reserve inflation concerns against expectations for further action from the ECB and a mixed UK inflation picture.

Bitcoin briefly climbed to $70,000 on Wednesday, reaching that level for the first time in 11 weeks before easing back. The rally was supported by improving liquidity expectations, renewed focus on U.S. crypto legislation and a technical break watched by traders.

The U.S. Treasury Department has proposed key definitions and jurisdictional standards for implementing the GENIUS Act, a major step toward a federal framework for payment stablecoins. The proposal opens a 60-day comment window as regulators work through delayed rulemaking ahead of the law’s expected effective date.

Gold advanced sharply as signs of possible de-escalation around Iran pressured crude oil and weakened the inflation case for further rate hikes. XAUUSD traded at $4249.84, up $172.79 or +4.24%, while traders weighed softer private payrolls and a more supportive technical backdrop.

WTI crude oil has moved sharply lower as traders react to signs of possible progress in Iran-US negotiations. Yet high open interest, Middle East uncertainty, and recent intraday reversals suggest the selloff may not be a simple one-way trade.

AUD/USD traded flat near 0.7040 on Wednesday but remained well above last month’s 0.6865 low as risk sentiment improved. Technical traders are watching 0.7100 as the next upside level, while a move below 0.7000 would weaken the bullish case.

The U.S. dollar lost ground as traders reacted to softer U.S. labor market data and weaker factory orders. EUR/USD and GBP/USD gained traction, while USD/JPY tested a key resistance zone as markets assessed the risk of further yen intervention.

The U.S. dollar gained ground as traders reacted to a stronger-than-expected ISM Manufacturing PMI reading. EUR/USD and GBP/USD pulled back, USD/CAD advanced as commodity-linked currencies softened, and USD/JPY moved away from session lows after recent intervention activity.

A coordinated U.S.-Japan move pushed the yen sharply higher after USD/JPY nearly reached 164, reviving memories of bitcoin’s August 2024 sell-off. Yet BTC’s recent relationship with USD/JPY suggests broad U.S. dollar strength, not a classic yen carry trade unwind, may be the more important pressure point.

President-elect Trump’s pick for Treasury Secretary, Scott Bessent, is a pro-crypto hedge fund manager. Discover how his appointment could shape U.S. crypto policy and accelerate blockchain adoption.