USD/PHP has shed 8 pips and last sits....>

DOLLAR-PHP: USD/PHP has shed 8 pips and last sits at PHP50.63. The Philippine

Trade Dept asked lawmakers yesterday to approve the PHP1.3tn fiscal stimulus

package prepared by the gov't, with Trade Sec Lopez pledging that the

authorities will "help turn the tide for businesses and workers".

- A breach of PHP50.54, the low of May 21, would clear the way to May 14 low of

PHP50.25, the key near-term support and worst level since early 2018. Bulls need

a clearance of yesterday's high of PHP50.80 before targeting May 18 high of

PHP50.91.

- The Philippines will release of BoP, foreign reserves and overseas remittances

at some point later this week.