Further rangebound expected in USD/PHP – UOB

USD/PHP is seen trading within a consolidative mood in the medium-term horizon, according to Strategists at UOB Group’s Quarterly Global Outlook.

Key Quotes

“Overall, we expect USD/PHP to stay in the range of 49.5 – 50.5 over the next few quarters, with slight USD weakness expected to lend a helping hand too.”

“Our USD/PHP forecast is 50.5 by end-3Q20, 50.3 by end-4Q20, 50.0 by end-1Q21, and 49.5 by end-2Q21.”