Peso goes up on demand
February 26, 2018 | 6:39 pm
FacebookTwitterLinkedIn Font Size
A A A
peso dollar bills
The peso strengthened versus the dollar on demand for the local currency. -- BW FILE PHOTO
THE PESO strengthened slightly against the dollar on Monday due to demand for the peso ahead of US Federal Reserve Chair Jerome H. Powell’s testimony.
The local unit closed yesterday’s session at P51.86 against the greenback, three centavos stronger than its P51.89-per-dollar close on Friday.
The peso traded stronger the whole day, opening the session at P51.80 versus the dollar. Its worst showing stood at P51.88, while yesterday’s intraday high was at P51.75 against the greenback.
Dollars traded on Monday dropped to $516 million from the $656.3 million booked the previous session.
“The peso strengthened today amid profit-taking from the strong dollar last week,” a trader said on Monday.
Meanwhile, another trader attributed the peso’s strength on demand for the currency within the trading session.
“I think there’s some demand. I’m not sure what industry, probably oil or energy. That’s why the dollar-peso is supported,” the trader said.
A third trader said the pair traded within the range as market players are waiting for more cues to spark movement. “For this week, not only for [Tuesday], the market will be watching for [Jerome H.] Powell’s testimony and his views regarding several issues.”
Mr. Powell, who took office in February after Janet L. Yellen stepped down, will testify before the US Congress to discuss the economy and, possibly, the Fed’s future policy path.
“I think the market will focus on Powell’s take on recent developments, his outlook on growth and inflation and the Fed’s moves regarding the number of hikes this year,” the third trader said.
For today, the second trader expects the peso to move between P51.75 and P52, while the first trader gave a slightly wider range of P51.75 and P52.05. The third trader sees the currency trading between P51.65 and P52.05 versus the dollar. — K.A.N. Vidal
Report: Price spike to spur Q1 rate hike, market says no jitters over Bangko Sentral ng Pilipinas chief's health, and gamifying propaganda: are mobile games the next platform for pushing...
15 h BusinessWorld
The Metro Pacific group said it will hold off on submitting unsolicited proposals for infrastructure projects pending resolution of its road toll dispute with the government.
2 h BusinessWorld
“I don’t think it’s advisable for kids to play it. It’s still about killing people.”
3 h BusinessWorld
This will put the company in a position to disrupt the solar energy industry.
1 h BusinessWorld
"Celebrities need not have any particular expertise on a product’s effectiveness."
1 h BusinessWorld
Adjusted for one-time transactions, core net income rose by 5% to P4.84 billion for the October to December period, from P4.62 billion previously.
2 h BusinessWorld
BusinessWorld
@
As the Senate pushes forward with the jeepney modernization program, some stakeholders are calling out prototypes that are not "compliant" with new regulations.
37 m BusinessWorld
The push for federalism draws from the belief that the whole of #Mindanao is suffering from national government neglect. But if we look closely at recent data, what surfaces is a more complex...
1 h BusinessWorld
A "retail apocalypse" sweeping the globe threatens to shut down more than half of America's shopping centers, with experts noting the same trend all over the world. With nearly 200 major...
2 h BusinessWorld
Thirty luxury vehicles were destroyed on Tuesday as part of the Bureau of Customs’ war on smuggling. Officials say this is only the first batch, with more vehicle condemnations to come in...
3 h BusinessWorld
Markets updates for February 27, 2018.
6 h BusinessWorld
Gov't deficit in 2017 below ceiling set by economic managers Gov’t posts P350.6 billion deficit in 2017, equal to 2.2% of GDP. This is below the 3% ceiling set by economic managers. Revenues...
13 h BusinessWorld
Gov’t posts P350.6 billion deficit in 2017, equal to 2.2% of GDP. This is below the 3% ceiling set by economic managers. — Melissa Luz T. Lopez (
13 h BusinessWorld
The firm will develop a residential condominium project in Bacolod City called MesaVirre Garden Residences. The units will be spread out across three buildings, valued at P2.63 billion.
21 m BusinessWorld
IN OTHER NEWS
Peso plunges to worst finish in nearly 12 years
Peso plunges to 11-year trough
Peso extends decline vs dollar
Peso nears P52-per-dollar level
work for findshare.com
Source: Peso goes up on demand
February 26, 2018 | 6:39 pm
FacebookTwitterLinkedIn Font Size
A A A
peso dollar bills
The peso strengthened versus the dollar on demand for the local currency. -- BW FILE PHOTO
THE PESO strengthened slightly against the dollar on Monday due to demand for the peso ahead of US Federal Reserve Chair Jerome H. Powell’s testimony.
The local unit closed yesterday’s session at P51.86 against the greenback, three centavos stronger than its P51.89-per-dollar close on Friday.
The peso traded stronger the whole day, opening the session at P51.80 versus the dollar. Its worst showing stood at P51.88, while yesterday’s intraday high was at P51.75 against the greenback.
–– ADVERTISEMENT ––
Dollars traded on Monday dropped to $516 million from the $656.3 million booked the previous session.
“The peso strengthened today amid profit-taking from the strong dollar last week,” a trader said on Monday.
Meanwhile, another trader attributed the peso’s strength on demand for the currency within the trading session.
“I think there’s some demand. I’m not sure what industry, probably oil or energy. That’s why the dollar-peso is supported,” the trader said.
A third trader said the pair traded within the range as market players are waiting for more cues to spark movement. “For this week, not only for [Tuesday], the market will be watching for [Jerome H.] Powell’s testimony and his views regarding several issues.”
Mr. Powell, who took office in February after Janet L. Yellen stepped down, will testify before the US Congress to discuss the economy and, possibly, the Fed’s future policy path.
“I think the market will focus on Powell’s take on recent developments, his outlook on growth and inflation and the Fed’s moves regarding the number of hikes this year,” the third trader said.
For today, the second trader expects the peso to move between P51.75 and P52, while the first trader gave a slightly wider range of P51.75 and P52.05. The third trader sees the currency trading between P51.65 and P52.05 versus the dollar. — K.A.N. Vidal
RECOMMENDED
Arthritis Will Be Fully Gone Within 1 Month With This Home Remedy
Arthritis Will Be Fully Gone Within 1 Month With This Home Remedy
rejuvenatemyjoints
Why Doctors Will No Longer Prescribe Metformin (Watch)
Why Doctors Will No Longer Prescribe Metformin (Watch)
healthnewstips.today
Doctors Confused: Can This Really Disappear Varicose
Doctors Confused: Can This Really Disappear Varicose
healthnewstips.today
CALAEx Laguna Blvd-Mamplasan section to open by December
CALAEx Laguna Blvd-Mamplasan section to open by December
BDO income up on expansion of core businesses
BDO income up on expansion of core businesses
Philippine Airlines outlines new routes with delivery of 15 aircraft this year
Philippine Airlines outlines new routes with delivery of 15 aircraft this year
FROM PHILSTAR
John Lloyd Cru
Report: Price spike to spur Q1 rate hike, market says no jitters over Bangko Sentral ng Pilipinas chief's health, and gamifying propaganda: are mobile games the next platform for pushing...
15 h BusinessWorld
The Metro Pacific group said it will hold off on submitting unsolicited proposals for infrastructure projects pending resolution of its road toll dispute with the government.
2 h BusinessWorld
“I don’t think it’s advisable for kids to play it. It’s still about killing people.”
3 h BusinessWorld
This will put the company in a position to disrupt the solar energy industry.
1 h BusinessWorld
"Celebrities need not have any particular expertise on a product’s effectiveness."
1 h BusinessWorld
Adjusted for one-time transactions, core net income rose by 5% to P4.84 billion for the October to December period, from P4.62 billion previously.
2 h BusinessWorld
BusinessWorld
Cebu Landmasters expands in Negros Occidental with 2 projects | via 
https://t.co/QmJnmgiUD8 https://t.co/eQZmc7K1kF
21 m
BusinessWorld
Half of social enterprises focused on agriculture, @PwC Philippines says | via @YnaCarlosLim
https://t.co/YfWKLIR7Uc https://t.co/vEOC1BDQue
52 m
BusinessWorld
This will put the @Ayala_1834 unit in a position to disrupt the solar energy industry | via @_kmontealegre…https://t.co/KPKHmTEnRfjhttps://t.co/DUwPplpd8z
1 h
BusinessWorld
OPINION | Do we buy what celebrities sell?
https://t.co/LaKAcLGke2 https://t.co/jWziR0Lso5
1 h
BusinessWorld
Higher electricity sales drive 
https://t.co/v8iqdrtkME https://t.co/6UJ5lLqNaO
2 h
BusinessWorld
The Metro Pacific group said it will hold off on submitting unsolicited proposals for infrastructure projects pendi… https://t.co/3VHGKfZHlM@PatriziaMarcelohttps://t.co/pcNmgQfKAWhttps://t.co/6X3AwHfbRd
2 h
As the Senate pushes forward with the jeepney modernization program, some stakeholders are calling out prototypes that are not "compliant" with new regulations.
37 m BusinessWorld
The push for federalism draws from the belief that the whole of #Mindanao is suffering from national government neglect. But if we look closely at recent data, what surfaces is a more complex...
1 h BusinessWorld
A "retail apocalypse" sweeping the globe threatens to shut down more than half of America's shopping centers, with experts noting the same trend all over the world. With nearly 200 major...
2 h BusinessWorld
Thirty luxury vehicles were destroyed on Tuesday as part of the Bureau of Customs’ war on smuggling. Officials say this is only the first batch, with more vehicle condemnations to come in...
3 h BusinessWorld
Markets updates for February 27, 2018.
6 h BusinessWorld
Gov't deficit in 2017 below ceiling set by economic managers Gov’t posts P350.6 billion deficit in 2017, equal to 2.2% of GDP. This is below the 3% ceiling set by economic managers. Revenues...
13 h BusinessWorld
Gov’t posts P350.6 billion deficit in 2017, equal to 2.2% of GDP. This is below the 3% ceiling set by economic managers. — Melissa Luz T. Lopez (
13 h BusinessWorld
The firm will develop a residential condominium project in Bacolod City called MesaVirre Garden Residences. The units will be spread out across three buildings, valued at P2.63 billion.
21 m BusinessWorld
IN OTHER NEWS
Peso plunges to worst finish in nearly 12 years
Peso plunges to 11-year trough
Peso extends decline vs dollar
Peso nears P52-per-dollar level
Peso goes up on demand
February 26, 2018 | 6:39 pm
FacebookTwitterLinkedIn Font Size
A A A
peso dollar bills
The peso strengthened versus the dollar on demand for the local currency. -- BW FILE PHOTO
THE PESO strengthened slightly against the dollar on Monday due to demand for the peso ahead of US Federal Reserve Chair Jerome H. Powell’s testimony.
The local unit closed yesterday’s session at P51.86 against the greenback, three centavos stronger than its P51.89-per-dollar close on Friday.
The peso traded stronger the whole day, opening the session at P51.80 versus the dollar. Its worst showing stood at P51.88, while yesterday’s intraday high was at P51.75 against the greenback.
–– ADVERTISEMENT ––
Dollars traded on Monday dropped to $516 million from the $656.3 million booked the previous session.
“The peso strengthened today amid profit-taking from the strong dollar last week,” a trader said on Monday.
Meanwhile, another trader attributed the peso’s strength on demand for the currency within the trading session.
“I think there’s some demand. I’m not sure what industry, probably oil or energy. That’s why the dollar-peso is supported,” the trader said.
A third trader said the pair traded within the range as market players are waiting for more cues to spark movement. “For this week, not only for [Tuesday], the market will be watching for [Jerome H.] Powell’s testimony and his views regarding several issues.”
Mr. Powell, who took office in February after Janet L. Yellen stepped down, will testify before the US Congress to discuss the economy and, possibly, the Fed’s future policy path.
“I think the market will focus on Powell’s take on recent developments, his outlook on growth and inflation and the Fed’s moves regarding the number of hikes this year,” the third trader said.
For today, the second trader expects the peso to move between P51.75 and P52, while the first trader gave a slightly wider range of P51.75 and P52.05. The third trader sees the currency trading between P51.65 and P52.05 versus the dollar. — K.A.N. Vidal
RECOMMENDED
Arthritis Will Be Fully Gone Within 1 Month With This Home Remedy
Arthritis Will Be Fully Gone Within 1 Month With This Home Remedy
rejuvenatemyjoints
Why Doctors Will No Longer Prescribe Metformin (Watch)
Why Doctors Will No Longer Prescribe Metformin (Watch)
healthnewstips.today
Doctors Confused: Can This Really Disappear Varicose
Doctors Confused: Can This Really Disappear Varicose
healthnewstips.today
CALAEx Laguna Blvd-Mamplasan section to open by December
CALAEx Laguna Blvd-Mamplasan section to open by December
BDO income up on expansion of core businesses
BDO income up on expansion of core businesses
Philippine Airlines outlines new routes with delivery of 15 aircraft this year
Philippine Airlines outlines new routes with delivery of 15 aircraft this yea
Report: Price spike to spur Q1 rate hike, market says no jitters over Bangko Sentral ng Pilipinas chief's health, and gamifying propaganda: are mobile games the next platform for pushing...
15 h BusinessWorld
The Metro Pacific group said it will hold off on submitting unsolicited proposals for infrastructure projects pending resolution of its road toll dispute with the government.
2 h BusinessWorld
“I don’t think it’s advisable for kids to play it. It’s still about killing people.”
3 h BusinessWorld
This will put the company in a position to disrupt the solar energy industry.
1 h BusinessWorld
"Celebrities need not have any particular expertise on a product’s effectiveness."
1 h BusinessWorld
Adjusted for one-time transactions, core net income rose by 5% to P4.84 billion for the October to December period, from P4.62 billion previously.
2 h BusinessWorld
BusinessWorld
Cebu Landmasters expands in Negros Occidental with 2 projects | via
https://t.co/QmJnmgiUD8 https://t.co/eQZmc7K1kF
21 m
BusinessWorld
Half of social enterprises focused on agriculture, @PwC Philippines says | via @YnaCarlosLim
https://t.co/YfWKLIR7Uc https://t.co/vEOC1BDQue
52 m
BusinessWorld
This will put the @Ayala_1834 unit in a position to disrupt the solar energy industry | via @_kmontealegre…https://t.co/KPKHmTEnRfjhttps://t.co/DUwPplpd8z
1 h
BusinessWorld
OPINION | Do we buy what celebrities sell?
https://t.co/LaKAcLGke2 https://t.co/jWziR0Lso5
1 h
BusinessWorld
Higher electricity sales drive
https://t.co/v8iqdrtkME https://t.co/6UJ5lLqNaO
2 h
BusinessWorld
The Metro Pacific group said it will hold off on submitting unsolicited proposals for infrastructure projects pendi… https://t.co/3VHGKfZHlM@PatriziaMarcelohttps://t.co/pcNmgQfKAWhttps://t.co/6X3AwHfbRd
2 h
As the Senate pushes forward with the jeepney modernization program, some stakeholders are calling out prototypes that are not "compliant" with new regulations.
37 m BusinessWorld
The push for federalism draws from the belief that the whole of #Mindanao is suffering from national government neglect. But if we look closely at recent data, what surfaces is a more complex...
1 h BusinessWorld
A "retail apocalypse" sweeping the globe threatens to shut down more than half of America's shopping centers, with experts noting the same trend all over the world. With nearly 200 major...
2 h BusinessWorld
Thirty luxury vehicles were destroyed on Tuesday as part of the Bureau of Customs’ war on smuggling. Officials say this is only the first batch, with more vehicle condemnations to come in...
3 h BusinessWorld
Markets updates for February 27, 2018.
6 h BusinessWorld
Gov't deficit in 2017 below ceiling set by economic managers Gov’t posts P350.6 billion deficit in 2017, equal to 2.2% of GDP. This is below the 3% ceiling set by economic managers. Revenues...
13 h BusinessWorld
Gov’t posts P350.6 billion deficit in 2017, equal to 2.2% of GDP. This is below the 3% ceiling set by economic managers. — Melissa Luz T. Lopez (
13 h BusinessWorld
The firm will develop a residential condominium project in Bacolod City called MesaVirre Garden Residences. The units will be spread out across three buildings, valued at P2.63 billion.
21 m BusinessWorld
IN OTHER NEWS
Peso plunges to worst finish in nearly 12 years
Peso plunges to 11-year trough
Peso extends decline vs dollar
Peso nears P52-per-dollar level
Source: http://bworldonline.com/peso-goes-demand/
You can follow me 
