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Peso Looks Through Sharp Rebound In Philippine Economy

PHP

The Philippine economy expanded 11.8% Y/Y in Q2 after contracting 3.9% in Q1, beating BBG median estimate of +10.9%. The expansion was fastest since 4Q1988, according to the Philippine Statistics Authority.

  • Spot USD/PHP trades +0.025 at PHP50.415, with USD/PHP 1-month NDF last seen -0.03 at PHP50.580. Familiar technical levels remain in play.

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