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Peso Remains In Free Fall

PHP

Spot USD/PHP keeps advancing amid continued sell-off in U.S. Tsys. The rate changes hands +0.218 at PHP52.263 at typing, with bulls looking for gains towards Mar 22/14 highs of PHP52.471/52.487. Bears would be pleased by a pullback under the 100-DMA, which intersects at PHP51.211.

  • USD/PHP 1-month NDF last seen +0.110 at PHP52.400, with bulls looking to further gains towards Mar 22 high of PHP52.790. Conversely, bears look for a dip through the 100-DMA at PHP51.383.
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