Forex News USD/PHP continues yesterday's technical recovery from Friday's fall caused by Philippine central bank's aggressive interest rate hike late Thursday. Pair last at 44.69 after ending at 44.53 yesterday; band so far 44.60-44.69 on moderate volume. "The pair's failure to breach the 44.30 support in recent sessions means the pair will try to test the 44.70 resistance. And if that's broken, the next target is 45.05," says local bank trader.
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