Spot USD/PHP trades -0.099 at PHP53.353, pressured by regional reaction to Fed rate decision, with bears looking for further losses towards the PHP53.000 mark. Conversely, a clean break above PHP53.500 would bring Oct 23, 2018 high of PHP53.923 into play.
- USD/PHP 1-month NDF last seen +0.060 at PHP53.480. Bulls keep an eye on Jun 15 high of PHP53.650, while downside focus falls on Jun 13 low of PHP53.000.
- The National Capital Region will stay under the lowest COVID alert level until at least the end of the month, even as OCTA Research warned that the actual level of virus risk in Metro Manila rose to "moderate" from "low." Still, the group clarified that healthcare utilisation remains very low, which allows to maintain the current settings.
- Worth flagging in advance that Bangko Sentral ng Pilipinas will deliver its monetary policy decision next Thursday.