The dollar index, a barometer of investors’ reflation expectations for the US economy, fell on Monday to trade at its lowest level since the presidential election, signalling that the so-called Trump trade is nearing the point of being fully unwound.
The Central Bank of Nigeria on Monday introduced new Forex rates and would no longer trade the naira at N375 per dollar for invisibles, such as school fees, medical bills and travel allowances.
Asian markets fell Monday and the dollar struggled on fears the collapse of Donald Trump's repeal of Obamacare could mean he will struggle to push through his promised tax-cut and infrastructure spending policies.
The pound kicked off the week on a positive note, soaring to a two-month high against the dollar, as it benefited of the latter's woes following last week's collapse of Donald Trump's healthcare bill.
Next trading day's important events
- USDJPY: 110.38
- EURUSD: 1.0883
- S&P 500: 2328.91
- NASDAQ: 5793.91