The US Fed is expected to make another rate hike this year and three more next year. The peso yesterday started the week on a losing streak anew, shedding nine centavos to close at 54.11 to $1 from 54.02 to $1 last Friday. It opened weaker at 54.03 and hit an intraday low of 54.13. “Import demand is likely to remain strong and see a seasonal peak by midmonth this month as producers prepare for Christmas. The relief after the peak of import demand is part of the medium-term trend of rising imports and widening trade gap as domestic demand growth remains strong,” he said.

Source: Philippine Star October 01, 2018 16:05 UTC