With U.S. markets closed for Thanksgiving, liquidity tightened and volatility rose across foreign-exchange and crypto corridors. Traders cited thinner order flow as holiday volumes damped activity in key digital asset pairs.

The USD has pulled back from a six-month high registered last week, setting up its steepest weekly decline since July.

Industry players at Spectra Markets signal that traders are recalibrating for 2026, weighing regime shifts that could deprioritize a persistent long USD stance.

Analysts warn that a White House adviser favoring rate cuts could influence the Federal Reserve chair outcome, potentially weighing on the USD and improving liquidity for crypto markets.