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The Ugandan shilling was broadly stable on Friday, drawing support from hard currency inflows from both non-governmental organizations (NGOs) and commodity exporters. Commercial banks quoted the shilling at 3,440/3,450.
The Kenyan shilling edged down on Friday mainly due to demand for dollars from companies. Commercial banks posted the shilling at 101.35/45, compared with 101.30/40 at the close of Wednesday. Thursday was a public holiday.
The EUR/USD pair is in a bearish consolidation as we progress towards the European session, with the bears now awaiting fresh impetus for the next leg lower towards March lows reached at 1.0820; with chances of movements further lower to 1.05 also very high .