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Peso refused against the dollar on Tuesday, as some US Federal Reserve Policy Members said that the rates should now be steady due to high inflation.
The local unit was closed in P58.15 against Green Back on Tuesday, and 12 Centavos weakened from the end of its P58.03 on Monday, shows the Bankers Association of the Philippines data.
Beso opened a weakness in P58.08 against the BSO trade session on Tuesday, which was already its intertle of its intertle. In the meantime, it fell up to P58.285 against the Green Pack.
On Monday, dollars rose from $ 1.16 billion to $ 1.67 billion on Tuesday.
Following the comments of the central bank officials, Beso reduced the wide dollar strength, a trader said in a telephone interview.
On Wednesday, trader Beso expects to move from P58 to P58.40 for a dollar, while Risal Commercial Banking Corporation Chief Economist Michael L. Riccard sees it from P58.05 to P58.25.
Reuters reported that the dollar was confirmed on Tuesday as the traders’ fare concerns and the US -rate cuts.
Investor’s focus this week was releasing the minutes of the Federal Reserve Meeting in January, President Donald J. Learn how policymakers tried to weigh the risk of a vast payment war in the wake of Trump’s trade policies.
Last week, the US consumer prices showed that US consumer prices increased at nearly 18 months in January, strengthening the central bank’s news that it was not urgent to resume reduction rates amid growing economic worries.
The dollar code measuring the Green Pack against the other six large coins was 0.27% higher in 107.01, which was not far from the two month low 106.56 touched on Friday.
Federal Reserve Governor Michael Bonon said he wanted a penalty for further reduction this year before re -reducing interest rates, especially before the re -reducing interest rates, especially the Retares of Trump’s new trade and other policies.
Meanwhile, Philadelphia’s Federal Reserve Bank of India, Patrick Harker, made an exciting note on the state of the US economy on Monday, and that there was no reason to change the interest rate policy as he continued to work on reducing the central bank inflation levels.
Federal Reserve Governor Christopher Waler said his “basic” view is that the new fees of the Trump administration will have only a normal impact on the prices that the central bank needs to see in setting up a monetary policy.
This is “does not support reduction in data policy rate”. Said Waller. “But if 2025 is running like 2024, this year’s rates will be relevant at some point.”
The Central Bank is expected to keep its Benchmark interest rate at its March meeting, which is expected to keep up to 4.25% to 4.5% of the current range. – Amc and By Reoid
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