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The US dollar weakened after inflation data eased, reducing interest rate hike expectationsOil prices retreated following Trump’s backtrack on proposed shipping levies in the Strait of HormuzNigeria’s naira depreciated despite the dollar’s weakness, reflecting ongoing pressure on the local currency
Pascal Oparada is a journalist with Legit.ng, covering technology, energy, stocks, investment, and the economy for over a decade.
The US dollar weakened on Tuesday, July 14, 2026, after fresh inflation data showed price pressures in the world’s largest economy eased more than expected, reducing expectations of an immediate interest rate hike by the US Federal Reserve.
The fall came despite heightened geopolitical tensions in the Middle East, which had initially pushed oil prices sharply higher following fresh attacks near the Strait of Hormuz.
Dollar falls as naira posts losses in the official and parallel markets. Credit: Picture Alliance/ContributorSource: Getty Images
However, crude prices later retreated after US President Donald Trump softened plans to
