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USD/PHP took a dip, severing support.....>

DOLLAR-PHP
DOLLAR-PHP: USD/PHP took a dip, severing support from the 2018 low of PHP49.69,
which allowed it to print the worst level since mid-2017. The rate trades -17
pips at PHP49.59 as we type.
- Bears look for a fall through the lower 3.0% Bollinger band at PHP49.45. Bulls
need to retake Jun 8 low of PHP49.80 before taking aim at the PHP50.00 mark.
- BSP Gov Diokno said yesterday that the central bank will gradually and
prudently unwind support measures taken during the coronavirus crisis. The BSP
is currently conducting a survey to gauge the need for further relief for banks.
- Next week, focus turns to Tuesday's CPI & Friday's trade balance.

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