Philippine Peso May Remain Weak -- Market Talk

Dow Jones03-16 14:52

0652 GMT - The Philippine peso is expected to remain weak until there is a de-escalation of the Middle East conflict, HSBC Global Investment Research analysts write in a report. The currency is vulnerable to such "terms-of-trade shocks," as the Philippines is one of largest net energy importers in Asia. Remittance inflows may also slow if the conflict prolongs. "This adds more pressure to the already weak growth outlook with an ongoing corruption investigation leading to a prolonged fiscal drag and subdued sentiment," HSBC says. The peso touched a record intraday low of 60.032 pesos against the dollar on Monday, LSEG data show.(amanda.lee@wsj.com)

(END) Dow Jones Newswires

March 16, 2026 02:52 ET (06:52 GMT)

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