News / Foreign Exchange
After the peso broke through the resistance of the cup & handle, it reached 47 pesos and retraced, trying to retest the support of 46. It’s now back to the 47 peso area.
Even when the USD is being battered by the other currencies, it’s the peso that’s being battered by the USD. We could probably see the rate soften during December due to the inflow of remittances from the OFWs but that would be temporary. We still maintain our projection of an upside target of 51.32 for the USD. 
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