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Peso Struggles For Momentum

PHP

Spot USD/PHP trades +0.022 at PHP51.452, with topside focus falling on key resistance from PHP51.500. Bears look for losses past Feb 23 low of PHP51.105.

  • USD/PHP 1-month NDF last +0.050 at PHP51.660. Bulls look to a move through Feb 21/8 highs of PHP51.750/51.780, while bears keep an eye on Feb 23 low of PHP51.110.
  • The Philippines' daily Covid-19 caseload fell to 866 on Wednesday, the lowest level this year.
  • Looking ahead, the Philippines' consumer inflation data will be published on Friday.

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