The peso trades on a firmer footing after the BSP raised interest rates for the first time since 2018 on Thursday and flagged a sense of concern with rising inflationary pressures.
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Offshore yuan has taken a hit after the PBOC set the yuan reference rate at a weaker than expected level, while leaving its Loan Prime Rates unchanged.
The aforementioned PBoC inaction has dragged TYM2 away from worst levels, with the contract last -0-11 at 118-24+, 0-05 off its session trough. Cash Tsys are 1.0-2.5bp cheaper across the curve, with the 7- to 20-Year sector leading the weakness.