India, June 24 -- Cryptocurrencies recorded strong price gains in the past 24 hours in the wake of reports of a ceasefire between Israel and Iran. Stocks and stock futures also rallied as risk appetite improved. Crude oil and Gold Futures however plunged heavily. Safe-haven dollar also retreated. Sovereign bond yields increased, and prices decreased as markets cheered the easing in geopolitical tensions.
Anxiety ahead of Fed Chair's congressional testimony however limited gains. As part of the semi-annual monetary policy report to the Congress, Fed Chair Jerome Powell would testify before the House Financial Services Committee on Tuesday morning and the Senate Committee on Banking, Housing and Urban Affairs on Wednesday morning.
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