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Bitcoin, GBP/USD and Copper: Rising Yields Drive Markets

Bitcoin, GBP/USD and Copper: Rising Yields Drive Markets

By: 
Christopher Lewis

Rising U.S. yields drive markets ahead of the Fed as Bitcoin watches $76,500 support while GBP/USD and Copper show potential buying setups.

US2Y Technical Analysis

Daily candlestick chart of the US 2-Year Yield rising to 4.652% above its 50-day EMA of 4.293%.
Daily chart of the US 2-Year Treasury Yield advancing to 4.652% above the 50-day EMA. Source: TradingView

The 2-year yield continues to be very strong at the moment as we are within 24 hours or so of the Federal Reserve making an interest rate decision and having a press conference that could give us the tone for the next several weeks, if not months, of what’s going to happen with the U.S. dollar and yields.