The U.S. dollar climbed to a two-week high on Friday and is heading for its strongest weekly performance since November, as renewed global risk aversion boosted demand for safe-haven assets and pressured emerging-market currencies, including Nigeria’s naira.
The move reflects heightened investor caution following a sell-off in global equities and shifting expectations around U.S. monetary policy.
The dollar’s strength comes at a time when Nigeria’s foreign exchange market continues to grapple with demand pressures and external headwinds.