Philippine Peso Advances Against Dollar
September 09 2009 - 6:12PM
RTTF2
After a brief slide, the Philippine peso gained against the U.S.
dollar in early Asian deals on Thursday. The pair moved from 48.42
to 48.29 by about 10:40 pm ET. On the upside, 48.22 is seen as the
next target level for the Philippine currency. At yesterday's
close, the dollar-peso pair was quoted at 48.3850.
Today, the Philippines will provide July numbers for exports,
with forecasts calling for a contraction of 20.8 percent on year
following the 24.8 percent annual decline in June.
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