Apr 26, 2005

Nigerian Woes

Bill Cara flags a story on Nigerian debt problems as the cause for weakness in the GBP. Something certainly tanked it.

I mentioned Nigeria's belligerence a while back. Just think of the whimpering you would hear if oil wasn't trading at $50 /brl. Nigeria has always been a basket case and traded independently of other emerging market spreads so I am not sure their decisions can have too much of a knock on effect.

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