Radar Report: Are FX 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.
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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.