USDKES bottomed last week at 129.35 and has started the week on a winning streak touching 132 today partly because of the ongoing tension between Iran and Israel and the threat of retaliation and what could follow next, a black swan event.
Consequently, NSE has taken a breather after a good run that started in late February, through March and into early April, the earnings season serving as a catalyst.
Stocks with a lot of foreign traders like Safaricom and Equity Bank have the highest exposure incase USD continues to rally into the 140s although we expect the current governor to step in and support the shilling to prevent a steep fall in the shilling.
Yes it is a buy at current levels and a sell at 150-160 levels.