USD/PHP Weighed by Concerns Over US Rates, Local Politics -- Market Talk
15 September 2016, 08:02
0802 GMT [Dow Jones] The USD/PHP is weaker at 47.70 in afternoon trade Thursday, weighed down by offshore demand amid concerns over increase in U.S. interest rates and domestic political tensions stoked by President Rodrigo Duterte's recent comments, particularly those with regard to the country's alliance with the U.S. The USD/PHP had risen to 47.65 in early trade Thursday after opening at 47.43 and closing Wednesday at 47.47. "The peso could weaken further because the one-month NDF is already at 48.05," said a local bank trader. Volume is relatively heavy. (cris.larano@wsj.com)
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(END) Dow Jones Newswires
September 15, 2016 04:02 ET (08:02 GMT)
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