Currencies
Philippine Peso Poised for Biggest Gain in a Month on Oil Relief
A customer holds peso banknotes at a gas station in Mandaluyong, the Philippines.
Photographer: Lisa Marie David/BloombergThe Philippine peso is headed for its best gain in a month as optimism over a US-Iran peace deal boosts prospects for further declines in oil prices.
The currency rose 1.6% to 60.345 per dollar on Thursday, the most since April 8 and the largest advance in Asia. Before the advance, it was Asia’s worst performer this year after the Indian rupee, as higher oil prices weighed on an economy almost entirely reliant on Middle Eastern energy imports.