Price analysis 6/18: BTC, ETH, BNB, ADA, DOGE, XRP, DOT, UNI, LTC, BCH
Cointelegraph
Published Jun 18, 2021 04:01PM ET
Updated Jun 20, 2021 06:20PM ET
The U.S. Federal Reserve updated their inflation expectations for this year from 2.4% in March to 3.4% in their latest meeting that concluded on June 16. To tame inflation, the Fed plans to undertake two rate hikes before the end of 2023.
This news has boosted the U.S. dollar index DXY to its best level since mid-April. Gold’s price, which generally has an inverse correlation with the dollar, has dropped to a 6-week low.
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Written By: Cointelegraph
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