Bitcoin consolidates on Thursday's loss as bond yields rise ahead of Powell's speech. godbole17 reports
nursed moderate losses. In traditional markets, the dollar index pulled back to 102.30 from the two-month high of 103.62 and futures tied to Wall Street's tech-heavy Nasdaq index signaled a flat open.
Earlier in May, markets were confident the Fed would pause its liquidity tightening cycle next month and pivot to rate cuts later this year. The confidence, however, was shattered on Thursday after St Louis Fed President James Bullard advocated higher interest rates and Dallas Fed President Lorie Logan said that data at this time does not support pausing the tightening cycle.
At 15:00 GMT, Powell will speak at the"Perspectives on Monetary Policy" panel before the Thomas Laubach Research Conference hosted by the Federal Reserve.
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