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THE PESO is seen to strengthen against the dollar this year propelled by declining crude prices and decelerating domestic inflation, a foreign exchange research firm said.
THE PESO declined anew against the dollar on Tuesday, touching the P53-per-dollar level intraday, amid persistent safe-haven demand following the downward revision of the International Monetary Fund’s (IMF) global growth forecast.
THE peso declined further against the dollar on Friday due to continued concerns over the UK’s exit from the European Union as well as the partial US government shutdown.
THE PESO weakened on Wednesday after a plan for the United Kingdom's exit from the European Union was thumbed down, adding more uncertainty to the market.
THE PESO is seen to weaken further against the dollar this year as the surge of capital goods to support the infrastructure push of the government is expected to widen the trade deficit.
THE PESO strengthened further on Friday, paring losses in the last trading day of 2018 due to weaker economic data in the United States that kept the dollar on a losing streak.
THE PESO weakened versus the dollar on Thursday as the US Federal Reserve made hawkish remarks despite expectations of a pause after its interest rate hike.
THE peso strengthened on Friday as the dollar was undermined by weak jobs data and lower global oil prices.
THE PESO continued to strengthen versus the dollar on Monday following the positive developments in the G-20 Summit.
THE PESO is expected to strengthen against the dollar this week on the back of potentially softer inflation for November, coupled with mixed developments in the United States as well as a seasonal surge in remittances for the holiday season.