The Philippine peso is bracing for a potential jolt as U.S. President Donald Trump’s promised crackdown on immigration threatens to disrupt global labor markets and squeeze the billions sent home by overseas Filipino workers, a key economic lifeline.
Over the past couple of weeks, global financial markets have been roiled by the other side of Trump’s policies — tariffs. But in the currency market, the peso has remained stable compared with regional peers such as the Indonesian rupiah, Thai baht and Singapore dollar, all of which have sharply weakened.
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