The shilling was little changed versus the dollar on Thursday

Shilling registers little change versus dollar on Thursday

The shilling was little changed versus the dollar on Thursday, ending the day at levels similar to previous close.

Fickle dollar supply by corporate players was evenly matched by a dearth in activity on the foreign currency demand counter that left the home unit stuck within the 3680/3700 trough versus the greenback.

As the week comes to a close, we see home unit maintaining the current range, although players remain on edge, waiting to see whether the pair breaks past recent highs

Greenback dips

The U.S. dollar dipped on Thursday before recovering after data showed a decline in the Manufacturing and Services sector as businesses remain wary about the health of the U.S. economy.

The IHS Manufacturing PMI for August came in at 49.9 versus an estimate of 50.5, while the Services PMI for August was at 50.9 compared to expectations of 52.8.

The Euro held steady against the greenback in European session, as transatlantic rifts are set to feature prominently when President Trump arrives at the G7 summit in France to discuss differences over trade, Iran and climate change.

Sterling recovered after German Chancellor Angela Merkel said it was possible a solution to the Irish backstop could be found before the U.K. leaves the European.