USD/PHP Gains Upward Momentum

        0305 GMT [Dow Jones] A clearer direction for USD/PHP has emerged after Wednesday's break of the 45.00 round-figure trading barrier and strong closing inside the daily Bollinger uptrend channel. The bullish chart signal has rallied USD/PHP to an eight-month high of 45.15. The next target is the top of the weekly Bollinger uptrend channel at 45.47. USD/PHP has come off its intraday high but is still up, trading at 45.11 versus its Wednesday close of 45.07. The peso is slipping due to overarching U.S. dollar bullishness. But fundamentally, the peso appears an attractive currency due to Philippines' likely inclusion in China's New Silk Road plan, and the government's new focus on boosting growth in eight key sectors including infrastructure and manufacturing. (ewen.chew@wsj.com)
        (END) Dow Jones Newswires

        November 19, 2014 22:05 ET (03:05 GMT)

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