Philippine peso (PHP) Exchange Rates & Currency Deals

Bias USDPHP remains bullish-to-range-bound, above its 90-day average and in the upper half of the 3-month range. Expect a gentle drift toward the upper end as external cues stay broadly supportive of the dollar. Key drivers - Rate gap: The Fed is expected to ease policy later this year while BSP moves toward looser policy; the differential helps keep USDPHP in a bounded path, with dollar resilience from risk moves and inflows. - Macro factor: Fed policy expectations toward a neutral stance shape USD demand; cautious readings can keep the dollar firm vs the peso. - External cues: Broad dollar strength from risk appetite and domestic PHP inflows support USDPHP. Range Expect the pair to stay within its recent three-month range, with a gentle drift toward the upper end as external cues stay broadly supportive of the dollar. What could change it - Upside risk: stronger US payrolls or hotter inflation data could lift the dollar. - Downside risk: softer US data or earlier BSP easing could strengthen PHP and push USDPHP lower