Peso flat as investors await US inflation data

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The peso ended flat against the dollar on Tuesday, March 13, as banks stayed on the sidelines ahead of the US inflation data.

The local currency ended Tuesday’s session at P52.04 versus the greenback, flat from its finish the previous day.

The peso traded sideways the whole day, opening the session at P52-per-dollar, which was also its best showing for the day. Its intraday low, meanwhile, was at P52.06 versus the the greenback yesterday.

Dollars traded plunged to $359.8 million on Tuesday from the $507.9 million that changed hands in the previous session.

Traders told BusinessWorld that market players stayed on the sidelines waiting for fresh leads, particularly the US inflation data which was released Tuesday evening.

“The peso stayed at the sides today amid uncertainty on the US inflation data,” a trader said in an e-mail.

Aside from the inflation data, a second trader said market players are also waiting for some fresh leads from the monetary policy meeting of the Bangko Sentral ng Pilipinas next week. — Karl Angelo N. Vidal