“Dollar weaker against nearby currencies,” Jonathan Ravelas, chief market strategist at Banco de Oro (BDO) Unibank, said in a respond to a textual content message.
Ravelas stated the dollar weak spot could be attributed to the weak New York production for October, which printed at -6.8, a lot decrease than estimate of 1.0 and prior month’s -2.0.
The peso should quit 2016 at P47.70 towards the greenback, he stated.
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