Published at 03:06 (GMT) 19 Mar

Flows - USD/PHP eases, China tells US not to politicize CNY issues (PMVC2001)

EUR may still be weighed by the on-going German-Greece concerns but it is off the lows and that has also seen USD/PHP easing off the 45.70 highs earlier. In the background we still have the US-China spat playing out; the latest being Commerce Min official saying that US should not politicize the CNY issues reminding that cheap Chinese goods help control US inflation and that Chinese purchases of US Treasuries help to stabilize financial markets. Looks like the underlying cracks could act as a stall on USD/PHP downside along with all the other USD/AXJ. VV