MUFG’s Senior Currency Analys Michael Wan argues that the Philippines Peso is vulnerable as the Iran and Middle East conflict threatens to keep the Strait of Hormuz closed and Oil above US$100/bbl.

The Philippine peso fell to a record low as traders viewed comments from the nation’s central bank as dovish. The peso fell as much as 0.2% to 59 per dollar on Thursday, a level it last touched in ...