Dollar to get boost from Fed tightening: analyst

ABS-CBN News

Posted at Jun 15 2017 10:33 AM | Updated as of Jun 15 2017 10:53 AM

MANILA – The dollar is likely to get a boost from the US Federal Reserve’s decision to raise interest rates for the second time in three months, an analyst said Thursday.

The greenback could stay “above current levels” against the peso without breaching the P50.50 level, said Thinkmarkets senior analyst Matt Simpson.

The peso opened at P49.45 to the dollar on Thursday from P49.50 on Wednesday.

A strong yuan, however, could cap the dollar’s advance and the peso could strengthen to as much as P48 to the dollar, Simpson said.