0050 GMT [Dow Jones] The USD/PHP may head lower on expectations of
heavy inflows from overseas Filipino workers that accumulated over the
four-day break. The pair may head towards 42.20, then 42.10 from 42.42
late Friday. "Inflows will definitely support the peso, plus regional
currencies have recovered a bit and we will try to play catch up,"
says a local bank trader. He tips next resistance at 42.50. Philippine
financial markets were closed Monday and Tuesday.
(rhea.sandique-carlos@dowjones.com)
Contact us in Singapore. 65 64154 140; MarketTalk@dowjones.com
(END) Dow Jones Newswires
August 21, 2012 20:50 ET (00:50 GMT)
No comments:
Post a Comment