ForexLive Asia FX news wrap: BTC shows Santa how to drop down a chimney

Author: Eamonn Sheridan | Category: News

Forex news for Asia trading Friday 22 December 2017

Yeah, Bitcoin was taken to the woodshed today, dropping to around 13,000 USD, with other cryptos all down also. Except for 'Ripple' (XRB), that went up.

BTC has had a sharp bounce to back above 14,000 USD as I update. Whats a few thousand bucks price moves amongst friends though, right?

I posted on BTC for most of the day, see above. But now to currencies.

EUR/USD was a mover. It was hit two factors, most importantly a win for Catalan separatists in Spanish regional elections and secondly by comments on minority government from German Vice Chancellor Sigmar Gabriel. Once the New York trading low was taken out (circa 1.1850 it accelerated to the downside, hitting to around 1.1818 before a bounce and stabilising somewhat around 1.1850 (just below) as I update.

Elsewhere in FX ranges have been more limited, USD/CHF is up a few tics, cable is little changed, AUD/USD has ticked above 0.7700 (note a huge option expiry at that rate today, see bullets above). USD/CAD and NZD/USD are both little net changed.

Gold is net down a dollar or so.

So, apart from BTC and EUR/USD it was a quiet range session.


And, that's it from me until Wednesday next week - have a really great Christmas everyone!