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DOLLAR-PHP: USD/PHP has added 14 pips and last trades at PHP50.60. Philippine
Econ Planning Sec Chua said that the gov't expects unemployment to reach
double-digit levels this year, but sees the economy recover from the second half
of the year.
- In local (slightly old) data, overseas remittances rose by 2.5% Y/Y in
February vs. exp. of +3.7% & the prev. +6.6%.
- Bulls look for a break above round figure resistance/May 6 peak at PHP50.60/63
before taking aim at Apr 28 high of PHP50.72. Bears need a drop below May 14 low
of PHP50.25 to regain control.