Dollar-Peso Exchange Rate

USD tumbled overnight as Donald Trump made comments that he favored a weaker dollar, prompting investors to temporarily abandon the dollar. On the other hand, UK Prime Minister Theresa May outlined a “hard Brexit”, but did not provide any new details which caused the GBP to surge against the dollar. USD/PHP gapped down 8 centavos at the open to Php49.750, short covering caused the local pair to reach an intraday low of Php49.710 before market turned biddish on the back of suspected fixing demand. The local pair ended the day relatively flat, just down 4 centavos to Php49.790.

18-Jan-2017

17-Jan-2017

OPEN:

49.750

49.970

HIGH:

49.820

49.985

LOW:

49.710

49.825

CLOSE:

49.790

49.830

AM WT AVERAGE:

49.772

49.968

AM VOLUME (in millions):

$ 262.00

$ 364.80

PM WT AVERAGE:

49.751

49.895

PM VOLUME(in millions):

$ 295.00

$ 367.50

PDS WT AVERAGE:

49.760

49.931

TOTAL VOLUME(in millions):

$ 557.00

$ 732.30

Local Government Securities Market

Yields were little changed today as the GS market again saw limited trading activity post-British PM Theresa May's Speech. Aside from her comments signaling a hard Brexit, players also turned cautious following the comments by Donald Trump favoring a weaker dollar, a shift in stance from previous administrations' push for a stronger dollar. Uncertainties by these recent developments pushed activity even on the most liquid security, FXTN 10-60, to a minimum. Yield on this security just between 4.23 - 4.25%, just sideways from the previous days' levels. Other bonds across the curve saw some trades driven mainly from the end-user side. Total volume of deals today reached Php 7.0 Bn.

Jitters from Trump's inauguration this Friday will likely still be observed in tomorrow's trading. Acitivity in the market will possibly stay muted until after the key event.


 

 

Dollar-Peso Exchange Rate
18 Jan 2017 00:00

USD tumbled overnight as Donald Trump made comments that he favored a weaker dollar, prompting investors to temporarily abandon the dollar. On the other hand, UK Prime Minister Theresa May outlined a  [ ... ]

Local Government Securities Market
18 Jan 2017 00:00Local Government Securities Market

Yields were little changed today as the GS market again saw limited trading activity post-British PM Theresa May's Speech. Aside from her comments signaling a hard Brexit, players also turned cautious [ ... ]

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