The Uganda shilling appreciated further against the U.S dollar on the last day of November closing at the 3715/3735 levels stronger than a previous close of 3720/3740
Markets

Uganda Shilling trades flat at weekend close

The Uganda Shilling traded flat against the U.S. dollar in yesterday’s session bolstered by ebbing greenback demand from the interbank players.

The excess liquidity mop up by the regulator also helped in upholding the home unit to close at the 3810/3830 ranges same as previous.

Prior to the weekend, market chatters allude to a range bound at current levels as traders employ a wait and see stance on the local FX scene.

The U.S. dollar stood tall against its peers on Thursday, after data reinforced upbeat views about the U.S. economy and backed the Federal Reserve’s signal for a steady course of rate increases over the next year.

A slip in the euro, meanwhile, also helped the greenback tack on gains as investors fret about last-minute infighting in Italy’s coalition government over the 2019 budget plan.

The Pound Sterling was on the back foot against the dollar, falling to $1.3096 as investors remain skeptical of Brexit negotiations between the UK and the European Union.

The EUR/USD nudged to $1.1648 on concerns around heavily-indebted Italy’s handling of its budget. Investors’ attention will now turn to eurozone preliminary inflation data due later in the day to see if they can support ECB President Draghi’s views on prices.