Emerging markets - Philippine peso extends rout ahead of policy meeting as Asian forex remain mixed

MANILA, June 21 (Reuters): The Philippine peso bucked a broad recovery in Asian markets on Tuesday, as the country's central bank was seen raising interest rates at a slower pace than its global peers, while other regional currencies were mixed against a weaker US dollar.

A Reuters poll showed that the Philippine central bank will raise rates by a 25 basis points (bps) in June, but some surveyed economists saw a 50 bps hike in the face of a depreciating peso, which is down nearly 6% this year.