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Market Impact: 0.25
Peso Left Behind in Asia as Oil Shock Erodes Dollar Reserves
Source: Bloomberg
Currency & FXEmerging MarketsEnergy Markets & Prices
The Philippine peso is the region’s worst performer, down 6.2% year-to-date despite peers strengthening against the dollar. The move is attributed to an oil-shock backdrop that is eroding USD reserves and adding FX pressure. Overall, the article signals ongoing EM currency risk for the Philippines as external balance conditions deteriorate.
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