The Philippine peso that jumped to a 1-year high of 46.28 against the dollar at 6:45 pm ET Thursday weakened thereafter. The peso thus dropped to 46.6950 per dollar by about 10:05 pm ET. The next downside target level for the Philippine currency is seen at 46.735. The dollar-peso pair was worth 46.35 at yesterday's close.

Looking ahead, Philippines will provide August numbers for exports, with analysts expecting a decline of 20 percent on year following the 25.4 percent annual contraction in July.

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