HALISTER1: Philippine Peso Breaks 49.0 Support on USD Outflow: Union Bank

Philippine Peso Breaks 49.0 Support on USD Outflow: Union Bank

(Bloomberg) -- PHP breaks 49.00 psychological support versus dollar amid outflows across the region and sharp USD/Major FX strengthening over the weekend, says Leo Villacrucis, FX head at Union Bank of the Philippines.
  • Philippine central bank expected to provide USD liquidity
  • “All regional equity markets including the PSE have been falling for the past three days because foreign investors are getting out,” Villacrucis says by phone in Manila. “Vast capital is moving out of the country”
  • Technical peso support at 49.13, next at 49.27 per USD: Villacrucis
  • USD/PHP +0.3% to 49.100, highest since March 2009
Alert: HALISTER1
Source: BFW (Bloomberg First Word)

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Leo Villacrucis (Union Bank Of The Philippines)

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