0910 GMT [Dow Jones] The USD/PHP is a tad lower, tracking the USD's
weakness against some Asian currencies such as the KRW and THB. Stocks
in the Philippines, Korea and Thailand advanced amid mixed regional
equity performance. The currency pair is at 42.045 vs 42.06 late
Monday in Manila; it hit the day's high at 42.10 and low at 41.995.
"We expect the dollar to be a bit biddish ahead of the central bank's
meeting (on Thursday). There is a possibility of a rate cut," says a
local bank trader. Volume is heavy mainly on interbank trade. Traders
expect the USD/PHP to stay in a 41.90-42.20 range.
(cris.larano@dowjones.com)
Contact us in Singapore. 65 64154 140; MarketTalk@dowjones.com
(END) Dow Jones Newswires
July 24, 2012 05:10 ET (09:10 GMT)
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