USDPHP is currently in a consolidation phase after a run, and retesting its previous resistance, 56.41. If the USD will remain strong against PHP, we can see it will trade up to 57.51 - 57.99 up to 60.
Factors affecting weakening of PHP:
Debt
cnnphilippines.com/business/2023/5/8/ph-debt-P13.86T-march-2023.html
Rampant corruptions
business.inquirer.net/390650/a-look-at-how-corruption-works-in-the-philippines
Factors affecting weakening of PHP:
Debt
cnnphilippines.com/business/2023/5/8/ph-debt-P13.86T-march-2023.html
Rampant corruptions
business.inquirer.net/390650/a-look-at-how-corruption-works-in-the-philippines
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.