Currently the reserve currency continues to show growth and the dollar index set an annual maximum of 95.90. Many pairs updated the yearly highs on this background. Furthermore, pairs have also been under the influence of the introduction of new sanctions, tariffs and taxes on a number of countries, such as Turkey, China, and Russia. Their national currencies began a sharp decline.
The curtailment of relations with the US and high inflation lowered the Turkish lira at once by 5%, so that the currency reached a historic low.
Energy prices are also continuing to decline despite fears of a decline in oil prices in the markets due to sanctions. The US continues the process of restoring sanctions on Iranian oil and a new package of sanctions against Russia has affected technologies related to oil and gas production equipment, which will make it difficult to develop new fields.
On the cryptocurrency market, we observe a divergence in the direction of prices. Thus, some currencies show growth, while one of the most popular cryptocurrencies, Etherium, went down to the lowest level since November of last year. At the moment, the total market capitalization of cryptocurrencies is $225 billion.
