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U.S. dampen the crude market

U.S. dampen the crude market

Dollar hits new high on yen as Powell reappointment firms hawkish Fed bets

  • The U.S. Department of Energy will release 50 million barrels of oil from the Strategic Petroleum Reserve as part of efforts to lower prices
  • The #dollar hit a new four-and-a-half-year top against the yen after Federal Reserve Chair Jerome Powell was renominated for a second term, reinforcing bets that U.S. interest rates would rise next year and diverge from Japan's
  • U.S. banking agencies have set an agenda for how to begin tackling oversight of the #cryptocurrency industry, according to a joint statement that addressed custody, crypto-backed loans and the possibility of capital standards
  • #BTCUSD exploded 1.8%
  • #WTIUSD skyrocketed 2.9%
  • #XAUUSD plummeted 1.1%

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