India, July 3 -- Expectations of a further weakening in the labor market and renewed expectations of a Fed rate cut in July boosted crypto market prices ahead of the release of the monthly jobs report. Easing in trade-related tensions also supported sentiment. Bitcoin touched a 24-hour high of $110k.
Markets now await the monthly labor market data for clues on whether the Fed would ease rates in July itself or continue to adopt a wait-and-watch stance as indicated several times. The Fed has often attuned its monetary policy stance to the evolving situation in the labor market and inflationary front. The Fed would be closely analyzing the widely watched gauge of the American labor market amidst uncertainty surrounding the effects of Trump's...