Catalan Victory Election, Euro Dips, Bitcoin Tumbles

The victory for the Catalonians with 70 seats out of 135 saw the euro dip against the dollar on Thursday, while cryptocurrency Bitcoin tumbled in volatile trading.

Thinned Trading

In early morning trading the euro dipped 0.4 percent to $1.1817 and settled at 0.2 percent at $1.1851 at the end of trading. Trading was quite with volumes thinned due to the Christmas holidays.

Markets Concerned

The Catalan President Carles Puigdemont who is in self-imposed exile in Belgium has demanded that the Spanish government drop his arrest warrant and recognize Thursday’s regional election result. The victory has markets concerned over the possible effect it could have on a possible break-up of the euro zone.

Bitcoin Tumbles

Cryptocurrency Bitcoin once more made headline news as it tumbled to below $13,000, down 20 percent and then settled at $14,000. Since Sunday it has lost a third of its value.

US Dollar

US Senate approval of the tax code overhaul is seen as significant and is expected to boost economic growth, at least in the short=term.

The dollar index which measures the US currency against six major currencies gained 0.1 percent at 93.400. Down 0.6 percent for the week.

The dollar was trading at 113.37 against the yen. FX analyst at Sony Financial Holdings in Tokyo, Kumiko Ishikawa said that she expects the dollar to move higher after the Christmas holidays.
According to reports, Haruhiko Kuroda, Governor of the Bank of Japan said that the BOJ was in no hurry to move away from their monetary policy.

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