USDPHP hits 53.45

FxPH | June 26, 2018 | 97 | News

The Philippine Peso (PHP) just keeps depreciating against the USD yet the central bank of the Philippines does not seem to be concerned.

If you’re trading this pair then you should expect the peso to weaken even further as the central bank seem to encourage a weak peso.

Although a few people are happy about the weak peso ( apparently it will improve exports and people that receive remittances gain from it ) inflation will increase and costs of goods will increase. The PH is a net importer so if you are living in Manila you can expect imported goods to become more expensive in the near future.

I personally hope that the central bank of the Philippines will be more hawkish in the near future. For us day traders there should be a nice top forming soon and we should be able to buy more pesos against the dollar at a nice profit! Wait for a more hawkish tone from the central bank though as in the near future its expected to depreciate.

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