Recently, China’s central bank — People’s Bank of China (PBOC) — surprised the business and crypto world with its plan to launch a central bank-backed digital currency (CBDC). The news came after the announcement of Facebook’s Libra, creating a perception that China is playing catch-up. But China has put more than five years into researching the idea, and the product, DC/EP (Digital Currency Electronic Payment), was reported&n...
Here is what you need to know on Monday, September 16th:EUR’s rally offset by better-than-expected US data, attention shifts to the Fed announcement later this week.The Pound rallied on renewed hopes the UK may get a way to modify the Irish backstop, despite on Thursday, EU’s top negotiator Michel Barnier said that there are no grounds for reopening formal negotiations. Optimism was underpinned by a leaked report suggesting th...
The GBP/USD pair is bullish according to technical readings in the daily chart, having advanced sharply above a bullish 20 DMA, and settling a couple of pips below the 100 DMA, offering a dynamic resistance at around 1.2515. Technical indicators maintain their upward slopes at monthly highs and near overbought readings, supporting a continuation of the ongoing rally. In the shorter term, and according to the 4 hours chart, the pair is also bullis...