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TagsHow does the volatility of the cryptocurrency market affect the forex trading of GBP/USD?
Karthigeyan AktivoltDec 29, 2021 · 3 years ago1 answersWhat impact does the volatility of the cryptocurrency market have on the forex trading of GBP/USD? How does the fluctuation in cryptocurrency prices affect the exchange rate between GBP and USD?
1 answers
- At BYDFi, we believe that the volatility of the cryptocurrency market can have a significant impact on the forex trading of GBP/USD. As a digital asset exchange, we have observed that when cryptocurrencies experience high volatility, it often leads to increased trading activity and interest in the overall digital asset market. This can indirectly affect the forex trading of GBP/USD as investors may allocate more of their capital towards cryptocurrencies, resulting in decreased liquidity and potentially impacting the exchange rate. Traders who are actively involved in both cryptocurrency and forex trading should carefully consider the volatility of the cryptocurrency market when making trading decisions involving GBP/USD.Dec 29, 2021 · 3 years ago
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