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Spot USD/PHP operates -0.075 at PHP52.410, holding a fairly narrow range so far. A dip through Mar 10 low of PHP52.045 would encourage bears to look for a deeper retreat. Bull need a push through yesterday's high of PHP52.487 before taking aim at Aug 15, 2019 high of PHP52.620.

  • USD/PHP 1-month NDF last -0.130 at PHP52.600. Downside focus falls on Mar 9 low of PHP51.830, while bulls keep an eye on Mar 14 high of PHP52.940, followed by May 20, 2019 high of PHP52.990.
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