Powell Testimony: DXY breaks 105, BTC down to 22k as support, new peak rate of 5.60% in futures market

Powell "Ultimate Level of Interest Rates Likely to Be Higher Than Previously Anticipated"

James Van Straten
By James Van Straten
Former Lead Analyst CryptoSlate
This article was published 3 years ago. Some details may no longer reflect current market conditions or recent developments. If you spot anything that needs an update, contact us.
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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.
Currencies: (Source: Trading View)
Currencies: (Source: Trading View)
Meeting Probabilities: (Source: CME Fed Watch Tool)
Meeting Probabilities: (Source: CME Fed Watch Tool)
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James Van Straten
James Van Straten
Former Lead Analyst CryptoSlate

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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