Bitcoin prices dropped on DDoS Attack

Bitcoin prices dropped on Wednesday, due to a hacker attack over the two largest Bitcoin-trading exchanges. Slovenia-based Bitstamp, the world’s largest Bitcoin exchange, reported it stopped customer withdrawals in order to fix the issue on Tuesday night. Bulgaria-based BTC-e, the second-biggest Bitcoin exchange, reported it was also experiencing delays in processing transactions. Both exchanges report the processing issues are due to a denial-of-service attack. In denial-of-service attacks, hackers make a machine or network resource unavailable to its intended users by flooding it with...

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Dollar high on U.S. factory data and dovish BoJ comments

The USD traded higher against most major currencies on Monday following U.S. manufacturing data which was higher expectations, while dovish comments out of the BOJ weakened the Japanese Yen and boosted demand for the U.S. currency. The USD was up against the Japanese Yen, with USD/JPY up 0.61% at 103.08, and up against the Swiss Franc, with USD/CHF increasing 0.25% at 0.9085. The Yen was under pressure on market expectations for the Bank of Japan to increase the stimulus programs to meet its 2% inflation target by 2015. In U.S. trading on Monday, EUR/USD was down 0.38% at 1.3540. The ISM...

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USD continued to trade steady to lower as BOJ comments weigh on the Yen

The USD continued to trade steady to lower against the other major currencies on Friday, amid data indicating that inflation in the Eurozone increased more than analysts’ forecasts for this month, which continued to support the Euro, and as the comments of the Bank of Japan continued to weigh on the Yen. During U.S. morning trading hours, the Euro was stable against the USD with EUR/USD adding 0.04% at 1.3610. A report released today indicated that the unemployment rate decreased to 12.1% last month, from 12.2% in September. Preliminary data indicated that the annual rate of inflation in the...

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USD increased on Fed minutes, ECB cut rates

The USD traded high against the major currencies on Wednesday as the Federal Reserve announced a decision to scale back its monthly asset purchases in a few months, amid reports the European Central Bank is considering negative interest rates which also increased the demand for the USD. The Fed minutes read: “During this general discussion of policy strategy and tactics, participants reviewed issues specific to the Committee’s asset purchase program. They generally expected that the data would prove consistent with the Committee’s outlook for ongoing improvement in labor market...

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The USD traded lower ahead of Fed’s announcement

The USD traded lower against the major currencies on Tuesday as investors await the release of the minutes from the Federal Reserve’s October policy meeting. Fed uncertainty weakened the USD on Tuesday. European Central Bank board member Joerg Asmussen warned today that monetary authorities have to be “very careful” when considering the use of negative interest rates to steer the economy away from low inflation rates, which added support for the USD. In U.S. trading on Tuesday, EUR/USD added 0.23% at 1.3538. Data released on Tuesday indicated that the ZEW index of German economic...

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USD traded lower on Yellen’s dovish comments

The USD traded lower the major currencies on Wednesday after dovish ECB comments from Europe, bullish BoE reports from the U.K. and continuing uncertainty over the continuation of the Federal Reserve’s monetary policies. Federal Reserve Vice Chair Janet Yellen said the U.S. economy was performing “far short” of potential, suggesting the central bank will not withdraw its stimulus program soon. In U.S. trading hours on Wednesday, EUR/USD was up 0.20% at 1.3463. ECB executive board member Peter Praet told the Wall Street Journal that the bank may cut deposit rates to below...

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