Thursday, September 22, 2022
HomeSportsFears of hawkish US Fed drive peso to new document low

Fears of hawkish US Fed drive peso to new document low




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

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