Philippine Peso poised to sink further as contagion spreads

  • Forex
  • Monday, 10 Sep 2018

SYDNEY: The Philippine peso could be in for greater pain despite the Southeast Asian country's strong economic growth, with major money managers bearish on the currency.

Franklin Templeton Investments sees the peso falling past 55 per dollar -- a drop of more than 2 percent -- and is tactically shorting it. Neuberger Berman reckons that steps taken by nation's central bank don't go far enough yet to stem a slide in Asia's third-worst performing currency.