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THE PESO inched higher against the dollar on the back of risk-on sentiment as the first phase of trade negotiations between the United States and China went well, with Beijing vowing to buy $50 billion worth of agricultural products from the world’s largest economy.
THE PESO climbed further on Friday on the back of optimism on a trade deal between the United States and China.
THE PESO ended weaker on Monday due to concerns over weaker-than-expected US non-farm payrolls data released last week.
THE PESO weakened on Wednesday, weighed by political risks arising from the US House of Representatives’ move to open a formal impeachment inquiry against US President Donald J. Trump, causing the market to seek refuge in the safe haven dollar.
THE PESO weakened against the dollar as investors flocked to safe havens after an attack on Saudi Arabia’s oil facilities drove up crude prices and worsened tensions between the United States and Iran.
THE PESO extended its losing streak on Tuesday on continued US-China trade war jitters paired with Brexit issues looming anew amid election prospects.
THE PESO weakened on Monday as the United States and China kicked off a fresh round of tariffs and with the market expecting slower Philippine inflation in August.
THE PESO ended stronger on Friday ahead of the first tranche of the planned tariffs by the United States on some Chinese-made goods on Sept. 1.
THE PESO finished stronger on Thursday ahead of an expected downward revision in US economic growth data.