The shilling traded sideways with no distinct trend amid thin liquidity. Demand was muted with market players seen holding long positions. Bid and ask quotes were 3735/45.
In Kenya, the unit eased slightly on end month demand as companies sought dollars for imports with the dollar quoted at 135.78.
In the Treasury bill auction, yields remained broadly flat on all tenors. Bank of Uganda took a little more on the 91 day and less on the other tenors. Yields across the yield curve printed at 10.384%, 10.512% and 12.502% respectively.
In the global markets, the focus was on the slew of Central bank policy meetings that could signal how soon the steep increases in interest rates globally might come to an end.
Outlook indicate that the shilling is likely to continue with its range bound trading as it struggles to find momentum and real direction with low demand likely to negate the effects of typical end month flows.
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