Philippine Peso, Bonds Advance as Fed Policy Weakens U.S. Dollar
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The Philippine peso and bonds gained on speculation the U.S. Federal Reserve will keep interest rates near zero this week, encouraging investors to buy emerging-market assets.
The currency climbed to its strongest level in more than a week as the Philippine Stock Exchange Composite Index rose 1.3 percent, following gains in the U.S. stock market. The Federal Open Market Committee announces its policy decision on April 27 and will hold the benchmark rate in a range of zero to 0.25 percent, according to all 80 economists surveyed by Bloomberg.