India, Feb. 14 -- Cryptocurrencies rallied in the past 24 hours amidst the U.S. Dollar's weakness and an easing in global bond yields. The move is despite the turbulence on the trade tariff front as well as recent inflation updates from the U.S. revealing latent price pressures. Bitcoin rallied close to a percent whereas the broader crypto currency market has seen market capitalization increase more than a percent.
The six-currency Dollar Index which measures the Dollar's strength against a basket of 6 currencies declined 0.49 percent overnight to 106.78. The day's trading ranged between 106.72 and 107.18 versus the 52-week trading that ranged between 100.16 and 110.18.
Ten-year bond yields in the U.S. decreased 1.28 percent whereas the 5...