Goldman Says Sell Philippine Peso on Current Account, Buy Yuan
The Philippine peso is set to lag peers as the nation’s current account deficit widens, according to Goldman Sachs Group Inc.
The Southeast Asian nation’s currency will likely weaken this year given the dovish orientation of its central bank and increased fiscal spending, Goldman strategists including Zach Pandl wrote in a Jan. 10 note. The firm recommends shorting the peso against the offshore Chinese yuan, which may benefit from improving sentiment as the U.S. and China prepare to ink a phase-one trade deal. READ MORE
- Technical Analysis indicates a clear strong buys for this three pairs – CNY, JPY & EUR
- Always bear in mind about money management
- Have a good trading Plan
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