GBPUSD falls to 5-month low, due to COVID-19 uncertainty
Sterling today fell to its lowest level in the last 5-months, as COVID-19 cases remained at elevated levels in the United Kingdom.
Data released in Britain on Tuesday, showed that close to 40,000 infections of the coronavirus were recorded in the last 24-hours.
Today’s tally brings the 7-day average to 45,462 and comes on the week where the UK removed all its remaining COVID-19 restrictions, so-called “Freedom Day”
Cable fell to an intraday low of 1.3571 earlier in today’s session, which is the lowest it has traded since February 4th.
The weakness in Sterling helped the FTSE 100 rebound from yesterday’s losses, with the London based index closing 0.54% higher.
Bitcoin drops below $30,000
Bitcoin was trading lower for a sixth consecutive session on Tuesday, with the world’s largest cryptocurrency falling below $30,000.
BTCUSD fell to an intraday low of $29,270, which is the lowest level it has traded at since June 22nd.
Crypto prices have been lower in the last few weeks, as several crackdowns on miners by the Chinese government unsettled markets.
Last week’s seizure for $408 million worth of Bitcoin by the British authorities also contributed to recent declines.
Despite this, many long term Bitcoiners believe that these drops will only serve to stimulate demand for crypto, with many looking to buy the dip.
Amazon gains as Bezos reaches space
Almost a week since Virgin founder Richard Branson lifted off into space, fellow billionaire Jeff Bezos today joined him in completing the feat.
The Amazon Chairman who recently left his role as CEO, was on board the Blue Origin rocket which today left the earth’s atmosphere, after taking off from Bezos’ ranch in Texas.
Upon returning to ground, Bezos stated that it was the, “Best day ever”, followed by “This is a tiny little step of what Blue Origin is going to do”.
Amazon’s founder added that, “What we’re really trying to do is build reusable space vehicles. It’s the only way to build a road to space, and we need to build a road to space so that our children can build the future”.
Shares in the tech giant were marginally higher as of writing.
Quote of the day – “I think investment psychology is by far the more important element, followed by risk control, with the least important consideration being the question of where you buy and sell.”– Tom Basso