A busy economic calendar and central bank chatter ultimately left the dollar in the red despite particularly hawkish chatter from the Fed Chair on Tuesday.
USD/CAD holds steady despite improving global market conditions.
Bitcoin futures, on the other hand, posted their largest net long position since the contract was launched in 2018. For the week of May 17, net longs in bitcoin rose to 806 contracts, compared with net longs of 703 contracts the previous week, CFTC data showed. Bitcoin BTC=BTSP, the largest cryptocurrency by market value, last fell 3.6% to $29,203, not far from a December 2020 low of $25,400 it hit a few weeks ago.