The peso strengthened by 19 centavos on the first trading day of the year as the market cheered an agreement among American lawmakers that would prevent a fall of the US economy from the so-called “fiscal cliff.”
Domestic financial markets are expected to be volatile in the coming days as investors become more anxious over the US “fiscal cliff,” said Amando Tetangco Jr., Bangko Sentral ng Pilipinas governor. But the BSP chief stressed that the volatility would be short-lived, and financial markets in the Philippines would eventually focus on the country’s [...]
Asian markets mostly rose Tuesday, taking a lead from Wall Street as dealers grow confident US lawmakers will reach an agreement to avert the fiscal cliff.
The peso moved sideways as investors weighed reports about a pickup in manufacturing in China and lingering concerns about budget problems of the US government.
The peso fell anew on Thursday amid concerns over the US “fiscal cliff” and the increase in oil prices in the world market.
