The Nigerian currency fell to the N2135-N2150 bandwidth against a resurging British pound Sterling, which rose to a new high against the greenback.
The U.S Fed is expected to strike a dovish stance at its policy scheduled today.
Currencies tracked by the U.S dollar index include; euro, British pounds sterling, and the Japanese yen.
U.S dollar dropped on Monday morning as global investors and currency traders got more optimistic about the global economic recovery
The U.S dollar index that tracks the American dollar against a basket of other major currencies was down 0.67% to 99.22 by 12 noon Nigerian time on Tuesday.
U.S dollar stood firm against major currencies on Monday as fears over rising tensions between America and China over Beijing's plans to begin
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 market responded negatively after British Prime Minister, Boris Johnson was admitted into the Intensive Care Unit yesterday due to complications from Coronavirus.
