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U.S. INFLATION
The naira posted some gains against the greenback as the dollar index moderated significantly while market players awaited America's inflation data and the U.S. Federal Reserve's interest rate decision due later in the day.
The dollar consolidated against major peers on Monday as market participants while the naira oscillated near its March 20 lows as traders await a key inflation report to assess the prospects of U.S interest rate cuts this year
Gold is under pressure amid the hot inflation data from the world's largest economy.
The Naira began the week on a strong note as it significantly appreciated against the US dollar on Monday at the country’s official foreign exchange market with the all-important U.S Fed meeting and much anticipated inflation data insight.
Gold is down 0.75%, trading at $1,881.50 per ounce while the dollar index, which usually trades inversely with Gold is currently up 0.13%, trading at 90.235.