Philippine peso leads Asian FX declines as regional currencies range‑bound - TradingView

Philippine peso leads Asian FX declines as regional currencies range‑bound. The Philippine peso was the worst performer among Asian currencies on Tuesday, falling 0.3% against the U.S. dollar. Most other regional currencies traded in tight ranges as investors awaited key economic data from China and the United States. The peso has been under pressure in recent weeks due to rising inflation and concerns about the country's current account deficit. However, some analysts believe the peso could rebound in the coming months as the Bangko Sentral ng Pilipinas (BSP) is expected to continue its aggressive monetary tightening cycle. The BSP has already raised interest rates by 200 basis points this year, and further hikes are likely as the central bank seeks to curb inflation. Meanwhile, other Asian currencies such as the Singapore dollar, the South Korean won, and the Thai baht were trading largely flat against the dollar. Investors are closely watching the release of China's trade balance data and U.S. jobless claims figures later this week for further direction.