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MANILA, Philippines – The Philippine peso could weaken to 63-per-dollar by the end of the year as support for the currency diminishes, ANZ Research said.
In its Asia Economic Outlook released Thursday, ANZ said optimism over a possible US-Iran deal boosted the peso, but warned the gains would likely be short-lived because of the Philippines’ external deficit.
READ: Peso at risk of hitting 64:$1 level–MUFG
The bank also cited domestic political uncertainty and a more hawkish US Federal Reserve as weighing on investor confidence and the peso.
