Forex / Currencies
The last time we wrote about the peso, we said that an upward trend could be in the offing but we’re not sure it could be sustained. Looks like it stuck out its mischievous tongue at us.
It has slowly kept its upward pace, actually more of a sideways movement with upward bias. Should it continue rising, it will meet our short-term target of 42.18. But is this the start of a new trend? I’d like to think that this is more of a rally after the peso has come down from lofty levels from years back. But many of the chartists I’ve talked to about this say that if the peso would appreciate against the dollar, we might be seeing the limit to its appreciation soon. 
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