Peso poised to strengthen further as dollar weakens: analyst

ABS-CBN News

<p>MANILA – The peso could strengthen further as the dollar weakens on the specter of another interest rate cut by the US Federal Reserve, an analyst said Thursday.</p><p>The local unit may reach P50 to a dollar, as the market expects another 25-basis point rate cut by the Fed by the end of July, BDO Unibank chief strategist Jonas Ravelas told ANC.</p><figure class="op-interactive"><iframe src="https://www.youtube.com/embed/6vqTxKaXHZI?enablejsapi=1"></iframe></figure><div class="iwantbar">Watch more in <a href="//www.iwantv.com.ph/">iWantv</a> or <a href="//tfc.tv/">TFC.tv</a></div><p>&quot;That’s actually driving the dollar weaker and the peso stronger… It could be a series so that is actually fueling the potential of peso appreciation probably closer to P50 in the coming weeks,” Ravelas said.</p><p>The peso closed at P50.90 to the dollar Tuesday, hovering near its 18-month high as equities entered bull market territory on Monday.</p>

<p>The local unit may reach P50 to a dollar, as the market expects another 25-basis point rate cut by the Fed by the end of July, BDO Unibank chief strategist Jonas Ravelas told ANC.</p>

The local unit may reach P50 to a dollar, as the market expects another 25-basis point rate cut by the Fed by the end of July, BDO Unibank chief strategist Jonas Ravelas told ANC.

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Peso poised to strengthen further as dollar weakens: analyst

Peso poised to strengthen further as dollar weakens: analyst

ABS-CBN News

Published Jul 18, 2019 10:31 AM PHT

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Updated Jul 18, 2019 03:35 PM PHT

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