The Uganda Shilling pared losses after struggling for momentum against a bullish dollar. The shilling rally was driven mainly by domestic factors that dented demand. Trading was in the range of 3805/15. In other markets the Kenya shilling was stable trading in the range of 119.25/40, as markets were keenly following the post elections developments. In the bond market, the 2 year and 10 year traded at yields of 14% and 16.25%. On a real yield or currency hedged basis, Government of Uganda bonds continue to offer relatively competitive returns, in view of headwinds facing other asset classes. In global…
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