The pound extended losses on Thursday after the Bank of England raised interest rates from crisis era lows but was cautious about any further tightening with an uncertain Brexit on the horizon.
Sterling rose modestly on Thursday after the Bank of England hiked interest rates above their financial crisis lows but signalled it was in no hurry to tighten policy further with an uncertain Brexit on the horizon.
The dollar was higher against a currency basket on Thursday after the Federal Reserve indicated that it is on track for additional rate hikes this year, while the pound slipped ahead of the Bank of England’s policy announcement later in the day.
Bitcoin was down slightly Monday, but still held above $8,000 despite news of an exchange traded fund being rejected by U.S. regulators last week.
Initial coin offerings are a hot topic, but the focus tends to miss the most important innovation. Attention naturally is on the 81 percent that are frauds, but the honest ones raised $7 billion for cryptocurrency initiatives in 2017. Those were predominately for double-blockchain ideas, which is blockchain funding to support a blockchain project.