The Uganda shilling was on a losing streak, trading at its lowest in months plagued by the reality of inflation pressures and high oil import demand. The energy forex requirements dominated the market. The bearish engulfing pattern led the unit to touch 3700 level. In other regional markets the Kenya shilling and Tanzania shilling were largely stable but were expected to weaken on energy demand.In the fixed income market the broader flattening bias is set to persist, signalling the imminent tightening cycle. Yields held at 6.501%, 7.98% and 9.000% for the short term government paper.In the global markets, the US…
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