It’s terribly easy to get lost in life’s small pleasures and to suffer from tunnel vision when reflecting on one’s own privilege. Few at the top of the pyramid consider those under them, and instead choose to affix their eyes to the sky rather than help denizens at the bottom rung of the ladder to gain a foothold. The financial industry is no exception, with billions of people around the world remaining ‘unbanked’ in this modern age, meaning that they cannot benefit from the flexibility or purchasing power that comes with credit and other modern financial services.
Bitcoin’s price has suffered a slight blunder. After spiking to nearly $8,400 over the weekend, the coin fell during today’s early morning hours to $7,900, but has since rebounded to about $8,000 at press time. It’s good news to know that while bitcoin failed to develop stronger resistance during its Sunday high, the drop wasn’t any worse.
Cryptocurrencies’ prices continued to rise on Monday, with Bitcoin recovered well above the $8,000 level.
Sterling and the euro turned lower on Tuesday, while the dollar pulled up from three-week lows against a currency basket to hit the highs of the day.
The pound pulled back from 22-month highs against the dollar on Tuesday after the latest UK employment report showed that wage growth missed estimates, but a cost of living squeeze is still easing.