Wednesday, Mar 21st 2018 5:57 PM

Market Digest Nigeria


Dollar Drops Against Basket of Currencies

Dollar Bills

The dollar index, which measures the greenback’s value against a basket of six major currencies, was down at 90.27 in early trade.

The U.S. stocks jumped to records with the Dow Jones Industrial Average crossing 26,000 and S&P 500 Index surpassing 2,800, both for the first time, as Citigroup Inc. discussed possible significant investor payouts from the bank’s windfall stemming from a major tax cut.

The Bloomberg Dollar Spot Index gained 0.3 percent, the first advance in a week and the largest rise in more than a week. The euro declined 0.3 percent to $1.2223, the first retreat in a week and the biggest drop in more than a week.

The British pound sank 0.3 percent to $1.3756, the largest decrease in almost two weeks.The Japanese yen fell 0.2 percent to 110.78 per dollar, the first retreat in more than a week.

The yield on 10-year Treasuries declined two basis point to 2.53 percent, the lowest in more than a week.
Germany’s 10-year yield decreased three basis points to 0.56 percent.
Britain’s 10-year yield fell one basis point to 1.312 percent.

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