The Uganda shilling inched slightly higher on subdued demand in a short trading week as markets closed for Eid holiday. The unit was confined in a narrow range of 3735/45.
Other major emerging market currencies also remained subdued against a steady dollar as caution reigned ahead of a barrage of Central bank policy meetings in the next couple of weeks.
In the fixed income market, the Treasury bond yields for the two and 10 year held flat as fiscal authorities kept a tight lid on the movement of rates as the fiscal year draws to a close. In their bidding pattern, markets continued to weigh fiscal uncertainty, growth risks and tightening path.
In the global markets, the US dollar was set for its first weekly gain in more than a month as bets for another hike by the US Fed in May gained momentum.
Looking ahead the unit is expected to weaken mildly as the unit continue to track domestic drivers mainly significant Q4 releases that could alter demand conditions.
Alpha Capital Forex Bureau: For competitive Forex Rates VISIT Plot 12 KAMPALA ROAD-CHAM TOWERS SUITE 43: call: ,
