Bitcoin is closing in on another extremely underwhelming month
The U.S. dollar index , which measures the performance of the greenback relative to a basket of other foreign currencies, managed to hit 103.9 on Thursday.The Japanese yen has lost its safe-haven status, plunging to the lowest level against the dollar earlier this week after Bank of Japan Governor Haruhiko Kuroda confirmed his commitment to the long-standing ultra-easy monetary policy. In such a way, the central bank would be able to continue defending its yield target.
A weak dollar usually serves as a tailwind for the world’s largest cryptocurrency. In late 2020, for instance, thedropped below 90 to hit the lowest level in more than two years. This coincided with a big runup in Bitcoin prices.
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