The Philippine peso closed at one more document low, ending at 58:$1 on Wednesday hours forward of the announcement of a United States Federal Reserve financial coverage determination that’s broadly anticipated to be one other giant enhance on rates of interest.
The native forex opened buying and selling at 57.70:$1 which was already weaker than the day prior to this’s closing of 57.48:$1, and misplaced 52 centavos to shut on the similar stage as its intraday weakest.
It was the eighth time that the peso sank to a brand new document low in 14 buying and selling days since hitting 56.77:$1 on Sept. 2.
The US Fed is holding their newest coverage assembly on Sept. 20-21, by which the American central financial institution is broadly anticipated to additional…
Carry on studying: Fears of hawkish US Fed drive peso to new document low