Philippine peso fell below the key 63 per dollar level for the first time,
hitting a record low of 63.150 per USD and increasing pressure on the Bangko
Sentral ng Pilipinas to defend the currency. Rizal Commercial Banking Corp chief
economist Michael Ricafort said further rate hikes are now more likely; a survey
showed the BSP is expected to raise rates by 25bps next week. Asian currencies
faced fresh selling on Thursday, led by the South Korean won and the New Taiwan
dollar.