Peso expected to hit P60 to the dollar in 3rd quarter

DOVISH signals from the Philippine central bank's policymaking body are contributing to the currency's weakness, Maybank Research said, with the peso-dollar rate likely to return to the record P60:$1 low this quarter.

"[A] downward trajectory is intact" for the peso-dollar rate, Maybank Research in a July 1 report, adding that the currency was likely to be weighed down by the possibility of the Bangko Sentral ng Pilipinas (BSP) cutting key interest rates ahead of the US Federal Reserve.