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The Ugandan shilling was steady on Wednesday, but traders said it could come under pressure from the usual end-of-month surge in corporate dollar demand. Commercial banks in Kampala quoted the shilling at 3,385/3,395, the same level as Tuesday’s close.
Kenya’s shilling was seen staying within a narrow band after slow demand for the dollar from multinational corporations on Wednesday, and traders expected a period of market stability to continue. Commercial bank quoted the shilling at 101.25/35 to the dollar, unchanged since its close on Tuesday.
Currently, EUR/USD trades +0.12% higher at 1.1230, retreating from session highs posted at 1.1236, just a thread-line short of Wednesday’s high reached at 1.1238. The main currency once again found fresh bids near 1.1185 region and embarked upon a solid recovery path, despite a better risk tone prevalent across the markets in wake of OPEC’s […]