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THE PESO weakened sharply past the P51-to-the-dollar level following a rush to safe-haven currencies due to the prospect of fresh Middle Eastern tensions after a US air strike killed a senior Iranian military officer while he was in Iraq.
THE PESO weakened on the first trading day of the year on the back of the losses in the stock market and as some investors stock up on their dollar ahead of the uncertainties throughout the year.
THE PESO ended sideways on Thursday as the market opted to stay on the sidelines as the year comes to an end.
THE PESO moved sideways on Monday following the latest round of cuts to banks’ reserve requirement ratios (RRR) and as markets await the Bangko Sentral ng Pilipinas’ (BSP) monetary policy decision.
THE PESO regained its strength versus the dollar on Thursday as markets picked up a sense of optimism that trade talks between the US and China are still in progress despite the situation in some of China’s territories and following data showing manageable inflation in November.
THE PESO could strengthen this week on the back of support from continued remittance inflows this month.
THE PESO depreciated anew on Friday as China threatened to impose countermeasures after the US passed a bill in support of Hong Kong.
THE PESO may strengthen further this week as the inflow of remittances due to the upcoming holiday season support the currency.
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 strengthened on Thursday as markets expected the central bank to keep rates steady at its policy meeting later in the day.