USD/JPY drops to 2-week low on US fiscal worries; Bitcoin hits new high
The USD/JPY pair has fallen to a two-week low, pressured by concerns over US fiscal policies and a weak US Treasury auction. The exact exchange rate and the extent of the decline were not specified. The uncertainties surrounding US fiscal measures have dampened investor confidence in the US dollar, leading to a stronger Japanese yen. In other news, Bitcoin has reached a new record high, reflecting the growing interest in cryptocurrencies as an alternative asset class. Traders will be monitoring further developments in US fiscal policies and their impact on the USD/JPY pair. A continuation of the bearish sentiment could push the pair lower, while any positive news on the fiscal front might lead to a rebound in the US dollar.
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