Economy / Kenya
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KES/US$: Stability With An Upside Bias
January 2007 | Currency ForecastSorry, you must be a subscriber to view this article in full. If you are a subscriber please login.
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Our January 8 call for downside for the Kenyan shilling has played out, and there is potential for further declines for the unit. Any fall through KES70.50/US$ would set-up falls toward key trendline support at KES73.00/US$, though this could take several months to play out. Over the coming two years however, our view is constructive, and we expect the unit to remain within its current appreciating trend channel. Any fall through KES73.00/US would however prompt us to reassess this