SSA FX: Short-Term Bullish KES, ZMK, UGX

BMI View: Relatively liquid Sub-Saharan African currencies continue to be driven by moves in the dollar-euro exchange rate, and this being the case, our global team's view for the euro to strengthen towards US$1.4000/EUR bodes well for short-term appreciation of the Kenyan shilling, Ugandan shilling and Zambian kwacha.

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