JP Morgan Closes Bearish Nigeria View, Says Election Risks Now Easing

JP Morgan Closes Bearish Nigeria View, Says Election Risks Now Easing

Wall Street investment bank JPMorgan closed a key bearish bet on Nigerian assets on Tuesday, saying the risk of potential problems from the west African country’s national elections may be easing, Reuters reports. Traders should take profits on a long trade on U.S. dollar-Nigerian naira 9-month non-deliverable forwards (NDFs) – a trade that bets on […]

Source: JP Morgan Closes Bearish Nigeria View, Says Election Risks Now Easing

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