On Thursday, Bitcoin (BTC) remained above the $60,000 mark during European trading hours, as traders reacted to a softened stance on interest rates from the Federal Reserve.
The shift in sentiment followed remarks from Fed Chair Kevin Warsh, suggesting that inflation risks are easing, leading many to believe a rate hike in July is less likely.
In the forex market, the Japanese yen rose to 161.20 against the U.S. dollar, bouncing back from a 40-year low of 162.84. This unexpected appreciation fueled speculation that the Bank of Japan (BOJ) may have intervened to support its currency. Despite the BOJ's recent interest rate hike to 1%, the yen continued to struggle against the dollar, which remains attractive due to U.S. rates at 3.5%.
