Bitcoin
rocketed higher during the session here, carrying on its gains from
Monday. The prospect of Bitcoin ETFs has lit a fire under the price.
BTC/USD hit US$35K during the session here, its highest since May of
2022.

More
broadly the USD lost ground, also carrying on its Monday move. All
major FX, including the hapless yen, rose vs. the big dollar. Lower
US yields, after the 10-year tickled 5%, are the weight on the USD.

Otherwise
news and data flow was limited here. We had preliminary PMIs from
Australia and Japan, none of these were encouraging (see bullets
above).

Bitcoin update:

Source: https://www.forexlive.com/news/forexlive-asia-pacific-fx-news-wrap-us-yields-weigh-on-us-dollar-separately-btc-soars-20231024/