The Philippines, along with emerging Asian economies, is looking slightly vulnerable, particularly its currency exchange rate system, when the United States’ Federal Reserves moves to raise its key policy rates, credit ratings agency Moody’s Investors Service said.

“With the US Fed on standby to start raising interest rates, most likely within this year, there is some potential for capital outflows from emerging Asian economies,” Moody’s said in its Sovereign Outlook - Asia Pacific report released on Thursday.

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