It is amazing to me how many times issues come around in FX markets, as if it is on a regular cycle I am being told of shenanigans (again) ahead of data releases.
This week, UK retail sales came in stronger than expected, but a short while before the release sterling jumped. The same happened in the Australian dollar about two weeks ago, but at the time I chose to dismiss it as an one off – clearly it wasn’t.
The memories of last year's emotionally charged bull run in bitcoin are fading fast, almost as fast as the optimism earlier this year that the cryptocurrency would regain the highs of 2017. At less than half the value at which it entered the year I am hearing a few more "why the time to buy bitcoin is now" stories emerge, but this bothers me. Looking at a market I like to weigh up the rationale for buying and selling - and bitcoin at the moment seems heavily weighted one way.