Powell Testimony: DXY breaks 105, BTC down to 22k as support, new peak rate of 5.60% in futures market Quick Take
- Powell spoke on March 7
- Powell: New data suggests “the ultimate level of rates is likely to be higher than previously anticipated.”
- “If the totality of the data were to indicate that faster tightening is warranted, we would be prepared to increase the pace of rate hikes.”
- DXY breaks 105, while other major currencies break down, GBP hits a new low of 1.18
- The new peak rate is 5.60% in the futures market, while 50 bps is the preferred choice for markets for the upcoming FOMC meeting in March.
Analyst 
James Van Straten
James fervently appreciates data, technology, and trend-spotting. As a tech and liberty maximalist, he hails Bitcoin as the 21st century's paramount invention.
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