Bitcoin surged to a near 16-month high above $11,000 Monday, overshadowing showings across stock, foreign exchange and commodity markets, with investors looking ahead to the week’s G20 summit. “Bitcoin volatility is likely to persist, with $12,000 and $15,000 as the next two critical resistance levels,” said OANDA senior market analyst Edward Moya. Markets are waiting to see if Trump and Xi can break an impasse in their trade war when they meet on the sidelines of the event in Japan. Global equities last week rallied after Trump hailed positive telephone talks between the pair, fuelling hopes of a possible end to their long-running tariffs battle. – Key figures around 1100 GMT –Bitcoin – UP at $10,921.25 from $9,939.81 late on Friday.

Source: Punch June 24, 2019 12:33 UTC