The USD/PHP is higher late Monday, with some banks trimming their short positions and taking profit on the PHP. The currency pair is at 41.61 after touching the day's low at 41.33 vs 41.42 late Friday in Manila. "The market is just taking a breather. We're seeing inflows, particularly in the stock market and in treasurys," says a local bank trader. Volume is still heavy, but thinner than Friday's. Traders expect the USD/PHP to stay in a 41.30-41.80 band in the near term.
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