![051324 – Peso set for worst drop](https://firstmetro.com.ph/wp-content/uploads/2024/05/051324-Peso-set-for-worst-drop-1018x1024.jpg)
- The Philippine peso weakened for a second day and the domestic share market advanced.
- USD/PHP rises 0.4% to 57.6500 as of 9:35 a.m. Manila time; set for the biggest gain since April 19; Bloomberg dollar spot index little changed
** Most major Asian currencies down versus dollar on day; the Bloomberg Asia Dollar index little changed at 90.5
** USD/PHP one-month implied volatility is at 5.82%, up from 5.5825% on Friday
** USD/PHP 200-DMA currently around 56.177; 100-DMA 56.241; 50-DMA 56.559 - The Philippines’ 10-year bond yield was little changed at 6.85% on Friday
- The PSEi Index of shares rises 0.8% to 6,564.88 on the day; poised to break a 2-day losing streak
** Global investors sold a net $6.08 million of Philippine stocks on Friday, according to exchange data