THE peso barely moved against the dollar on Friday as talks between the world’s two biggest economies to finalize their trade deal continued to be uncertain.

The peso closed at P50.80 a dollar, only 6.5 centavos stronger than a day earlier, according to data from the Bankers Association of the Philippines (BAP).

The peso opened at P50.89 a dollar dollar, strengthened to as much as P50.725 and weakened to as much as P50.845 against the greenback.

Dollars traded slipped to $1.099 billion from $1.439 billion on Thursday.

The local currency barely moved against the greenback this week due to the clout of the US-China trade deal talks, a trader said.

“The peso ended slightly stronger because some institutions were anticipating their flows this month and as remittances come in as the holiday season gets closer,” he said by telephone.

On Thursday, the Chinese commerce ministry said it would seek to finalize a “phase one deal” with the US.

“This is in line with the interests of both China and the United States, and of the world,” said Gao Feng, a spokesman at the ministry.

Previously, sources including trade experts and those close to the White House told Reuters that a phase one deal finality could slide into 2020 with Beijing looking for more “extensive tariff rollbacks” while the US countered with new demands for its part.

US President Donald J. Trump told reporters in Texas on Wednesday that China was not “stepping up to the level that I want.” — Luz Wendy T. Noble with Reuters

RELATED ARTICLESMORE FROM AUTHOR