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U.S. FED
The naira at the black market dropped to its lowest level in nearly eight weeks despite the dollar languishing at four-month lows as currency traders were positioned for deeper-than-expected interest rate cuts by the Federal Reserve in 2024.
After the Federal Reserve Bank of the United States made hawkish comments, the flagship crypto-backed fell below $40K.
Cryptocurrency market capitalization has gained over 18%, from $1.82 trillion to about $2.15 trillion.