India, May 2 -- Cryptocurrencies staged a rebound after the Fed's widely expected pause and hints of rate hikes being unlikely. Overall crypto market capitalization increased to $2.19 trillion, from $2.15 trillion a day earlier.
The Fed on Wednesday held rates steady at the 5.25% to 5.5% range. It also acknowledged the lack of further progress toward the Committee's 2% inflation objective in the recent months. The pace of quantitative tightening has also been reduced beginning June 1.
With the Fed becoming more and more data dependent in the pursuit of monetary policy, market focus has shifted to the monthly jobs data due on Friday. The American economy is expected to have added 243 thousand jobs in April, versus 303 thousand in March. Gi...