Australia CFTC AUD NC Net Positions dipped from previous $-117.3K to $-127.3K

OCBC strategists Christopher Wong and Sim Moh Siong note Philippine Peso (PHP) remains under pressure even after a larger-than-expected 50bp Bangko Sentral ng Pilipinas (BSP) hike to 5.50%, reflecting persistent inflation concerns. Higher rates may temper depreciation but are unlikely to fully offset elevated Oil prices, external imbalances and domestic growth worries. OCBC keeps a cautious stance, saying a sustained PHP recovery needs lower Oil and a better external backdrop.