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US Dollar Strengthens Against Philippine Peso

US Dollar Strengthens Against Philippine Peso

The best immigration information on the strengthening of the US dollar against the Philippine peso can be found at the WorldWay Investment Immigration official website.

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In the Asian currency market's closing session, the USD/PHP rose as investors maintained a risk-off sentiment following Fitch's downgrade of Spain's rating last Friday, moving from 46.19 at the end of last week to 46.25, with active trading during the session.

However, the inflow of substantial remittances from overseas Filipino workers at the end of the month has limited the rise in the exchange rate.

A trader from a local bank indicated that more funds are expected to flow into the Philippines on Tuesday, which should allow the peso to strengthen slightly. He believes the support level for the exchange rate is at 46.10, with the next resistance level at 46.50.

Investment involves risks, the above information is for reference only

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