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Peso Looks For Fresh Catalysts

PHP

USD/PHP changes hands at PHP48.05, just above neutral levels, with little on the way of local catalysts crossing the wires.

  • BSP Gov Diokno said Wednesday that interest rates would probably remain unchanged through 1H2021 "or even longer."
  • From a technical perspective, a break above Dec 22, 2020 high of PHP48.13 would shift bullish focus to the 50-DMA at PHP48.21. On the flip side, bears need a slide through the key PHP48.00 before targeting Oct 20, 2016 low of PHP47.95.
  • Friday's trade report headlines the Philippine docket during the remainder of this week.

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