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Rates & Bonds
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Radar Report: Are forex movements noise or trend?
Metrobank Research projects the Fed to cut a total of 75 bps cut by the end of 2024, that could end the strong dollar period.
May 10, 2024
By Ruben Zamora, Earl Andrew Aguirre, Ma. Kaila Balite, Marian Florendo, Geraldine Wambangco
By Ruben Zamora, Earl Andrew Aguirre, Ma. Kaila Balite, Marian Florendo, Geraldine Wambangco
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The negative year-to-date performance of the majority of ASEAN currencies against the dollar largely implies that the peso is simply weaker in 2024 due to the strong dollar environment.
Metrobank Research forecasts a PHP 54.00/USD exchange rate for end-2024 with an upward bias, supported by wider policy rate differentials and an improved current account balance while considering current market sentiment and upside risks.