The Philippine Peso Needs a Break. It May Be About to Get One

The embattled Philippine peso needs a break and it may soon get one. More than 10 million overseas Filipinos are preparing to send record amounts of money home for the Christmas and New Year holidays -- a period when remittances pick up -- with analysts from MUFG Bank Ltd., Standard Chartered Plc and Nomura Holdings Inc. saying those funds will help ease pressure on the currency. Since 2009, the highest monthly remittances value was in every December and last year’s $2.7 billion inflow in the month was the largest ever, according to central bank data.