Free Trial

Peso Hits Fresh Cycle Low

PHP

Spot USD/PHP has crept higher as the greenback has garnered strength amid higher U.S. Tsy yields. The rate last sits +0.143 at PHP52.433 after tagging fresh cycle highs, with bulls now setting their sights on Aug 15, 2019 highs of PHP52.620. Bears keep an eye on Mar 10 low of PHP52.045.

  • USD/PHP 1-month NDF last +0.170 at PHP52.870. Topside focus falls on May 20, 2019 high of PHP52.990, while bears keep an eye on Mar 9 low of PHP51.830.
  • BSP Gov Diokno advised against returning to the system, whereby the government could set oil price, as it would "create big hole in the national treasury." The official added that Russia's invasion of Ukraine is "definitely not" going to cause a large spike in inflation and hurt economic growth.
  • Reminder that the Philippine Statistics Authority will release labour market data on Friday.

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.