Dollar-Peso Exchange Rate
Mixed news overnight as US equities were slightly up along with US treasuries climbing marginally higher while the USD continued to lose ground against major currencies as uncertainties in US politics continue to linger. However, biggest news overnight was the suspected UK terrorist attack which left 19 people dead and 50 injured. The news caused safe haven assets to trade higher, while allowing the greenback to extend its gains against regional currencies. USD/PHP was well bid from the start with market players buying the greenback on any dips. Furthermore buying interest was instigated by suspected fixing demand and the local pair reached an intraday high of Php49.850 before finally closing at Php49.820, up 5 centavos from yesterday.
|AM WT AVERAGE:||49.762||49.752|
|AM VOLUME (in millions):||$ 359.00||$ 308.60|
|PM WT AVERAGE:||49.824||49.755|
|PM VOLUME(in millions):||$ 213.00||$ 120.50|
|PDS WT AVERAGE:||49.785||49.753|
|TOTAL VOLUME(in millions):||$ 572.00||$ 429.10|