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USD/PHP has added 6 pips thus far and....>

DOLLAR-PHP
DOLLAR-PHP: USD/PHP has added 6 pips thus far and last trades at PHP50.04.
Further gains past Jun 23 high of PHP50.25 are needed to bring Jun 15 high of
PHP50.38 into view. Bears look for a dip towards Jun 8 low of PHP49.80, the key
near-term support.
- Worth rehashing yesterday's comments from the Philippine Health Dept, which
said that the country could see a continued increase in its Covid-19 case count,
as new outbreaks emerge in some provinces.
- Eyes are on the BSP today, as Governor Diokno & Co. are preparing to deliver
their monetary policy decision. 12 out of 22 economists that took part in BBG
survey expect no change to the benchmark interest rate, with further 10 analysts
looking to a 25bp rate cut.
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