"Powell's Testimony and Bitcoin's Rally: A Focus on Currency Markets"

The US dollar softened as traders awaited Federal Reserve Chair Jerome Powell's congressional testimony and the European Central Bank's policy announcement, while bitcoin resumed its rally after falling from a record high. The dollar slipped after data showed a slowdown in US services industry growth, and markets are pricing in around 90 basis points of easing from both the Fed and ECB this year. Meanwhile, the yen strengthened amid reports of potential rate lifts by the Bank of Japan, and the Australian dollar recovered despite weak GDP data. Additionally, bitcoin surged to a record high before retreating, while Ether also saw a significant increase.