Peso, Asian currencies go up as investors expect more US pump-priming

The peso and other Asian currencies inched up on Wednesday amid expectations that US monetary officials would implement more initiatives to further pump-prime the world’s largest economy.

The local currency closed at 43.215 against the greenback, up by 6.5 centavos from Tuesday’s finish of 43.28.

Intraday high hit 43.17:$1, while intraday low settled at 43.24:$1. Volume of trade increased to $852.49 million from $795.95 million previously.

Traders said investors have been expecting the US Federal Reserve to come up with another round of injecting funds into the US economy after it completed its $600-billion bond-buying program in June.

Read more at Philippine Daily Inquirer

Con Yap