USD remains strong against PHP

٩ أغسطس ٢٠٢٣

USDPHP is currently in a consolidation phase after a run, and retesting its previous resistance, 56.41. If the USD will remain strong against PHP, we can see it will trade up to 57.51 - 57.99 up to 60.

Factors affecting weakening of PHP:
Debt
cnnphilippines.com/business/2023/5/8/ph-debt-P13.86T-march-2023.html
Rampant corruptions
business.inquirer.net/390650/a-look-at-how-corruption-works-in-the-philippines