Rates Outlook: Tracking external developments
A mild downside bias is seen for the dollar-peso exchange rate amid a light local data calendar and influence of global events.
May 13, 2026 by Metrobank
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(Editor’s Note: This outlook is subject to updates.)
Mariel Lopez, Investment Counselor at Metrobank’s Financial Markets Sector, said that in the absence of significant local catalysts, USD/PHP was expected to trade within a narrow range as of May 11, with support at 60.25 and 60.00 and resistance at 60.70 and 60.95. The dollar has since broken above this range, driven by stronger global dollar demand amid rising oil prices and persistent geopolitical uncertainty, indicating a shift from sideways movement and renewed upward pressure against the peso.