The Philippine peso may come below stress to depreciate quickly as america Federal Reserve is extensively anticipated to boost rates of interest aggressively once more this week, after having traded comparatively stably towards the US greenback the previous week.
The native forex has misplaced 10.4 % of its worth towards the dollar because the begin of this yr when it was buying and selling at 51:$1. In June alone, the peso misplaced 5 % to the greenback.
With inflation within the US taking pictures up additional away from the American authorities’s goal of two percent—hitting 9.1 % in June—analysts consider that the US Fed will once more increase the US federal funds charge by 0.75 share level at their July…
Carry on studying: Peso to come under renewed pressure as another Fed hike looms