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USD/PHP has edged lower, last trades.....>

DOLLAR-PHP
DOLLAR-PHP: USD/PHP has edged lower, last trades -5 pips at PHP50.56. BBG has
just ran headlines with a round of comments from the BSP. Governor Diokno said
that the BSP is ready to use all options in its toolkit and supports urgent,
coordinated measures with the government. Diokno added that CPI may settle
around the low end of the central bank's target range in 2020 and 2021.
- The Philippines reported its CPI data earlier today. Inflation slowed to +2.2%
Y/Y from +2.5% vs. the expected +2.1%.
- Bears see Apr 30 low of PHP50.42 as their initial target. The next key level
below is PHP50.37, a two-year low printed on Jan 14. Bulls would be pleased by a
rally through the 100-/50-DMAs at PHP50.78/80, towards Apr 24 peak at PHP50.84.
- Some key points of note on the local calendar this week include monthly trade
balance (Wednesday) and Q1 GDP (Thursday).

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