Forex & Crypto & Fintech News

Turkey’s Capital Markets Board (SPK) said on Wednesday it has set leverage ratios at 1:1 until September 3 for any new positions to be opened in foreign exchange markets to avoid price fluctuations. The move will exclude forex positions and their hedges that were opened before Aug. 16, the Board said. Trump's latest boost to the  dollar: U.S.-Turkey spat President Donald Trump has repeatedly called for a weaker U.S. dollar in a bid to help U.S. exporters, but his recent trade policies, including the imposition of import tariffs on some Turkish goods, have had the opposite effect of strengthening the greenback. The dollar this week rose to a 13-month high against a basket of currencies, getting an extra boost as emerging markets have sold off on concern about contagion from Turkey and investors sought a safehaven in the U.S. currency. On August 10, Trump intensified the spat with Turkey over the detention in Turkey of U.S. evangelical pastor Andrew Brunson on terr...

Bitcoin broke below a short-term support level in the early part of the US trading session. The vast majority of altcoins are also in the red, as traders await HitBTC to come back online. Bitcoin is trading below the psychological $8,000 mark, but even more importantly, below the former support zone around $7,800. If this breakout holds, the market is likely to go in a downtrend for the next couple of days. The next key level is the 100-day SMA at approximately $7,588. Charting by TradingView Altcoins are also struggling, with losses across the board. Only a few coins were ever in the positive. USDT, which is pegged to the dollar is experiencing significant flows, as traders opt to take a neutral position. While Binance Coin (BNB) is also holding ground, the overall picture is still very much red: Visualization by Coin360 The total market capitalization of cryptocurrencies did reach a seven-day low around $276 billion, but is still significantly higher than the mid-J...