Pound

The pound slumped more than one percent versus the dollar and euro Wednesday as Britain’s government moved to extend the suspension of parliament, increasing the likelihood of a no-deal Brexit.

The doctors are moving to societies where they are better paid because staying back in Nigeria keeps them on the poverty belt. A country that devalues its currency like Nigeria has done in relation to other major currencies like the Euro, dollar and pound is definitely going to have a huge crisis within its society.

The British pound steadied Friday after London requested another Brexit extension in the long-running saga, while global stocks mostly rose on hopes over China-US trade talks.

The pound fell Friday after Britain’s parliament again rejected a proposed deal to withdraw from the European Union.

Sterling rallied above $1.32 on Tuesday on fresh hope that British Prime Minister Theresa May would avoid a chaotic no-deal Brexit, while global stock markets recovered.

The pound fell sharply on Wednesday after British Prime Minister Theresa May announced it was seeking a delay to its exit from the European Union until June 30, while investors awaited the US Federal Reserve’s interest rate call.

The dollar witnessed a slight boost on Monday, hovering close to a near three-month high as investors continued to favour the greenback amid global growth concerns.

London’s stock market rallied Tuesday to a new two-month peak, supercharged by a Brexit-hit pound and energy giant BP’s surging annual profits, dealers said.

Global stocks mostly rose Friday following strong US jobs data, though Wall Street’s rally showed signs of fatigue after the Dow finished its best January in 30 years.

The British pound on Monday hit a seven-week high against the dollar as UK Prime Minister Theresa May delivered an upbeat speech on the eve of a key Brexit vote which she is expected to lose, dealers said.

Stock markets retreated once more Thursday as China’s slowing economy forced Apple to slash its revenue forecast, wiping as much as $55 billion from its value and dragging down share prices in the wider technology sector.

Pound sterling sinks on reports that Prime Minister Theresa May will delay a Brexit deal vote on the eve of what was forecast to be a “huge” defeat

Oil prices slumped to one-year lows Friday on lingering concerns over high crude supplies, while stocks diverged at the end of another volatile week for global markets.

Oil prices climbed on Monday as the world’s biggest supplier Saudi Arabia announced plans to cut production, in the face of fears of oversupply.

The Naira on Thursday appreciated marginally against the dollar at the Investors’ Window (I & E), exchanging at N363. 57, stronger than N363.94 posted on Wednesday.

The dollar continued to brush aside other currencies Thursday after further proof of the booming US economy sent Treasury yields surging, but Asian equities sank with more Federal Reserve rate hikes looking certain.

Prime Minister Theresa May hit back Friday at the European Union after it roundly rejected her Brexit plan, saying its refusal to compromise was "not acceptable" and reiterating the possibility of walking away from the negotiations.

Asian markets sank on Monday following reports that Donald Trump is planning to hit China with another round of tariffs, dealing a blow to hopes for talks between the two economic giants.