Forex News USD/PHP closes higher at 44.53 on last-minute profit-taking on PHP, which gained 2.3% in past two days on central bank's 50 bps rate hike; volume heavy as pair reversed early fall to 44.30; USD/PHP expected to move within 44.85-44.25, with overnight movement in Wall Street, oil prices key influence. "The momentum is still for (USD/PHP) selling towards 44. But after two days of (peso) gains and with the Dow Futures down, we had to take profit," says a local bank trader; overnight decline in U.S. markets, usually signals risk aversion, buoys USD/PHP.
0 comments:
Post a Comment