<p><strong>GLOBAL: US President Donald Trump asserted that any renewed military strikes would be brief </strong>and claimed that the US effectively controls the critical Strait of Hormuz.</p>

<p><strong>Market impact: Oil held a three-day gain following President Trump's reassurance of brief Iran strikes, </strong>while US equities and Treasury yields remained flat.</p>

<p><strong>Oil prices are still expected to carry a heavy premium and </strong>remain sensitive to any disruption in the Strait of Hormuz.</p>

<p><strong>LOCAL: The peso closed at a new all-time low of PHP 62.565 against the US dollar, </strong>attributed to the country's persistent current account deficit and weak economic fundamentals.&nbsp;</p>

<p><strong>Market impact: The PSEi declined as the peso hit a record low, </strong>pulling down most sectoral indices including services, financials, and property.</p>

<p><strong>Metrobank forecasts further peso weakness due to September's peak import season,</strong> followed by a recovery in the fourth quarter driven by seasonal OFW and BPO inflows.</p>