Fed decision to support PHP, local bourse – TetangcoMANILA — US’ Federal Reserve’s policy decision this week is seen to support the Philippine peso and encourage “very short term” trades as investors take advantage of the still low rates. The local unit closed at 47.89 Wednesday, weakest since the 47.99 last January 26. Tetangco said the Fed decision may even increase risk appetite in the near term. “It may even encourage very short term trades to squeeze some more juice from the carry,” he said. “We will monitor developments to see for any excessive market reactions,” he added.

Source: Manila Bulletin September 22, 2016 03:56 UTC