Currency updates from Tuesday’s session
In the global markets, the US dollar fell Tuesday after President Donald Trump announced a ceasefire between Israel and Iran, prompting a risk-on rally and losses for the main safe-haven currency.
Currency updates from Tuesday’s session
By Ali Twaha
Journalists @New Vision
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The Uganda shilling was a tad stronger today, benefiting from commodity inflows and the global risk on sentiment triggered by the ceasefire in the Middle East, traders said.
The shilling closed Tuesday at 3592/3602 compared to the day’s opening of 3600/3610.
Overnight trades averaged at 8.19%, while one week averaged at 10.00% in a session that demonstrated heightened liquidity in the money markets.
In the global markets, the US dollar fell Tuesday after President Donald Trump announced a ceasefire between Israel and Iran, prompting a risk-on rally and losses for the main safe-haven currency.
In Europe, EUR/USD rose 0.1% to 1.1591, with the single currency helped by the drop in crude prices as the European Union is a substantial importer of oil and liquefied natural gas.
GBP/USD climbed 0.7% to 1.3596, with sterling surging after data from market researcher Kantar showed that British grocery price inflation rose to 4.7% for the four weeks to June 15, its highest level since March last year, according to international media news agencies.