The pound has fallen to a record low against the dollar as markets react to the UK's biggest tax cuts in 50 years.
Recent strong macroeconomic data and the desire by investors to hold it are driving the U.S. currency higher.
The drop in the Cedi comes despite Ghana’s central bank's hawkish stance to stamp out inflation.
Amid the surge of the US dollar, an expert has argued that the US dollar is overprinted.
The exchange rate between the naira and the US dollar closed at N419.25/$1 at the official I&E window, representing a 0.18% depreciation.
The US Dollar Index (DXY), which tracks the dollar against a basket of major rivals, intensified its rise and achieved fresh cycle highs near 104.55.
The US dollar, which is regarded as a safe haven, has grown tremendously in the last six months.
The dollar hit its highest level since the early days of the pandemic and is on track to have its best month since 2015.
Despite the Naria's continued fall, certain emerging market's (EM) currencies have outperformed the US dollar in recent times, even as global concerns have risen.
Despite the dramatic price movements across asset classes, it is important to know what investors are buying and selling right now.
Bitcoin has gained over $5,700, representing 15.58% in just 3 days to today trade at $42,873.
On Thursday morning in London, the dollar was slightly down amid profit-taking while the yen, another safe-haven asset,...
