An under-pressure Philippine peso is making its third attempt since August to breach a key trigger point for central bank intervention, as broad gains
An under-pressure Philippine peso is making its third attempt since August to breach a key trigger point for central bank intervention, as broad gains in the dollar reduced the appeal of Asian assets.
The currency slid to as weak as 56.98 per dollar on Wednesday, within a whisker of the closely-watched 57 level. Earlier this week, Philippine central bank Governor Eli Remolona signaled that officials are intervening to defend the peso there to prevent even sharper depreciation.
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