Extending its last week' rally, the Philippine peso edged sharply higher against its US rival on Monday morning in Asia. The peso touched 46.765 against the US dollar by 10:00 pm ET, the highest level since February 11th. The next upside target for the domestic unit is seen around the 46.72 level. At Friday's close, the pair was worth 47.04.

US Dollar vs PHP (FX:USDPHP)
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