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Peso gains slightly vs dollar after US jobs report

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peso dollar bills

The peso strengthened a tad against the dollar on Monday, July 9, following the release of unemployment data in the United States last Friday.

The local unit ended Monday’s session at P53.40 versus the greenback, two centavos stronger than the P53.42-per-dollar finish on Friday.

Dollars traded rose to $620.2 million from the $506.5 million that switched hands the previous session.

A foreign exchange trader said on Monday that the peso “traded within the same range over the past few days.”

“There’s not much difference from the previous days. The range was still the same,” the trader told BusinessWorld in a phone interview.

“Although the dollar was generally weak across the board over the weekend, the dollar-peso didn’t move much.” — Karl Angelo N. Vidal