Forex

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“One area that the Federal Reserve is monitoring is the extreme volatility evidenced by some cryptocurrencies,” Federal Reserve Governor Lael Brainard said speaking at New York University’s Stern School of Business.

Bored by Stormy US politics? Get ready for the Brazil Presidential elections in October. The leader in the polls is a former President is free now but may be locked up in prison. Donald Trump and Hilary Clinton must smile at former President Luiz Inácio Lula da Silva.

China’s Foreign Exchange reserves fell by USD27bn in February, the first monthly decline since January 2017. The reaction from the market has been to see as a valulation event rather than as a reflection of capital outflows.

European Central Bank policymaker and President of the National Bank of Austria Ewald Nowotny continued with his theme of accusing the U.S. of intenionally influencing the U.S. dollar lower. 

2017 finished with what can best be described as a crypto mania. Seems everyone was talking Bitcoin. Companies were adding blockchain to their title and seeing their stock go up 400% on nothing but a name change. But this was different this time! Apparently not.

Apparently Bitcoin is worth something and legimate enough to sell.  The US attorney's office announced plans to sell 513 Bitcoin worth more than $8.5 million siezed in a drug and money laundering case. Don't tell the SEC.

Bitcoin has become a phenomenon in 2017, the longevity of cryptocurrencies is one of the most polaring topics of the year. The key lies in China where about 58% of the world’s large cryptocurrency mining pools are located, the U.S. has 16%.

It has been a wild few weeks for Crypto currencies, coming to a crescendo and crash on Friday. Coinbase began having interruptions with the collapse of Bitcoin and made an announcement 11:11 a.m. ET that "all buys and sells have been temporarily disabled."

American companies parking income offshore to avoid tax will be taxed at a rate of 15.5% for cash and cash equivalents in the new GOP tax plan posted Friday. This is up from President Trump's initial 10%. After cutting taxes lawmakers had to source revenue elesewhere.

;Bitcoin Fever has taken hold across the world, the worse example appears to be in the US where FOMO players have pushed it on some exchanges as high as $19,500 (GDAX) where as more conventional (yes I did say that) exchanges saw $17,000. That in one problem; Price discovery, the South Korean PM sees it as much worse.

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