Currency update from Thursday’s session

The Uganda shilling registered gains today, thanks to portfolio inflows which outperformed corporate demand during the day’s session.

The local unit closed the day trading at 3665 / 3675 levels compared to opening at 3670 / 3680 levels. Money markets were tight with overnight levels seen averaging at 11.41% according to an Absa market report.

In the global markets, after a sharp three-day decline that saw EUR/USD shed more than 0.50% of its value following last week's rally, the bulls regained control during Thursday’s session. The pair climbed to 1.0440, marking a 0.40% gain.

The Pound Sterling climbed against the Greenback and crossed the 1.2600 figure on Thursday, with traders awaiting the release of UK Retail Sales data according to reports.

Meanwhile, analysts project that a soft US Jobs report weakened the US Dollar. The GBP/USD trades at 1.2616, up 0.25%.