Peso seen to further weaken: analyst

ABS-CBN News

Posted at Feb 09 2018 09:10 PM | Updated as of Sep 04 2018 08:00 PM

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The Philippine peso may weaken further following the expected global correction of the US dollar, an analyst said Friday. 

Tomasz Wisniewski, chief analyst of Alpari Research and Analysis, said he is keeping his earlier forecast that the peso could slide to P53 by the yearend considering the negative influence of huge money outflow, Bangko Sentral's steady interest rates and the BSP's "dovish" inflation estimates.

"Look at the stocks, if major indexes will break, we're gonna see a major sell-off in the markets and emerging markets will be the first to suffer," he said.

On Friday, the peso closed at P51.48 after the trade deficit data was released.