MANILA, Philippines — The Philippine peso could weaken further against the US dollar and test new record lows in the near term, according to UnionBank of the Philippines. This, as a widening corruption scandal at home remains a “structural handicap” for the currency while geopolitical risks abroad are intensifying volatility. In its latest MktsFocUs report, the Aboitiz-led lender said the peso could trade between 59.30 and 59.70 against the US dollar in the week ahead. Market sentiment leans toward the currency remaining “persistently weak.” This, amid concerns that the crackdown on corruption may continue to hurt growth prospects and prompt […]... Keep on reading: Peso seen testing new record lows as slow growth cements easing bets