Lowest In 8 Years! Peso Weakens To P49 Per Dollar

“Markets are more sentiment driven. A lot of the panic moves in the market happened in the past 2 weeks. Moving forward, 49 to 50 is a very important threshold. At the moment, there should be no reason to break that and cause even more worry,” DA Market Securities chief equity strategist Nisha Alicer told ANC’s “Market Edge with Cathy Yang.”

“There was a panic buy in the US, wherein they’ve reversed the position, they’re actually more positive. It’s just a matter of realigning your portfolios towards what possibly would be Trump-friendly companies,” she added.

The weakening of peso will affect Philippines in terms of the boost in the remittances of overseas Filipino workers. Alicer also said that companies engaging in infrastructure and consumption will unlikely be affected by Trump’s victory.

Source: ABS-CBN,VK

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