Philippine bonds rose, pushing the two-year yield to the lowest this year, after inflation slowed and the peso touched the highest since early January.
Tullett Prebon Plc was sued by a former employee investigated by U.K. prosecutors as a potential co-conspirator to alleged rigging of the London interbank offered rate.
Meet the new swaps market. Same as the old swaps market.
The Philippine peso headed for its best month since September as accelerating inflation spurred speculation the central bank will boost borrowing costs.
The Philippine peso headed for a third weekly gain, the longest winning streak since September, after the central bank reiterated it will intervene in the market to stem volatility.
Philippine President Benigno Aquino said there is no danger of the economy overheating, downplaying the risk of asset bubbles forming even as annual growth exceeds 7 percent.
The Philippine peso rose for a second week, the longest run of gains since October, after export growth exceeded estimates and Federal Reserve Chair Janet Yellen said U.S. stimulus cuts will be “measured.”
The Philippine peso fell, reversing an earlier advance to a one-month high, on speculation importers bought dollars to meet payments.
The Philippine peso gained the most in more than four months after new Federal Reserve Chairman Janet Yellen said further reductions in monetary stimulus will be done in “measured steps.”
Asian currencies completed their best week in two months, led by the Philippine peso and the Thai baht, as improvements in U.S. economic data eased concern that global growth is slowing.
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