$1.269B for 0.03 CPI: The Philippines' Reserve-Burning Math Doesn't Add Up
TL;DR
* Peso Rescue: $1.27B for 0.03 Inflation Point — BSP's Expensive Arithmetic. Is the BSP defending the peso or just defending its own credibility?
* ¥164 to ¥156.9: U.S.-Japan Yen Intervention Masks a Rate Chasm That Won't Close. Can FX intervention fix
