The U.S Fed is expected to strike a dovish stance at its policy scheduled today.
Global investors and currency traders are predicting futuristic gains for the greenback.
The American dollar continues to attract global investors and currency traders.
Nigerians hoping for transactions via the U.S dollar to countries like France would have the need to pay fewer dollars to fulfill such transactions.
U.S dollar gains strength, Investors turned to the dollar as their haven asset after the report cut their hopes for a potential cure for the COVID-19 virus.
The U.S. Dollar Index that tracks the American dollar against a basket of other major currencies dropped 0.10% to trade at 100.338
The American dollar continued its bullish run for 48 hours, even as currency traders raised concerns over rising tensions between the U.S and China.
After reaching support levels of above $6,700, bitcoin price started to surge against the US dollar. BTC price rose above the $6,900 and $7,000 levels.
The market responded negatively after British Prime Minister, Boris Johnson was admitted into the Intensive Care Unit yesterday due to complications from Coronavirus.
Investors are ignoring fiscal and monetary help, as uncertainty from the coronavirus outbreak coupled with weakening economic outlook.