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THE PESO weakened against the dollar on Monday as jobs data out of the United States last week pointed to a continued recovery in the world’s largest economy.
THE PESO is expected to rebound this week as more businesses reopen amid relaxed quarantine measures in the country.
THE PESO weakened further on Thursday as the US government said it was targeting to distribute vaccines against the coronavirus disease 2019 (COVID-19) by the end of October.
THE PESO strengthened versus the greenback on Tuesday to log a new three-year high following the easing of quarantine measures in Metro Manila and nearby provinces.
THE PESO will likely appreciate further this week on increased risk appetite amid expectations that restriction measures in Metro Manila will be lifted to support the economy.
THE PESO strengthened against the greenback on Monday as the central bank chief signaled rates are likely to be maintained in the upcoming policy-setting meeting.
THE PESO may continue to appreciate this week following the record-high proceeds from the government’s retail Treasury bond (RTB) sale and amid weak demand for dollars.
THE PESO climbed to a new three-year high versus the greenback on Wednesday following the release of data showing a narrower June trade deficit and faster inflation in July.
THE PESO logged a fresh three-year high versus the dollar following the US economy’s contraction in the second quarter.
THE PESO rallied to its best close against the greenback in more than three years following the State of the Nation Address (SONA) of President Rodrigo R. Duterte, which outlined some measures to support economic recovery amid the pandemic.
THE PESO closed sideways against the greenback on Tuesday following the reduction in the reserve requirement for smaller lenders and as investors await clarity on further fiscal support in the United States.
THE PESO rallied against the greenback on Wednesday on the back of continued growth in the country’s dollar reserves.
THE PESO weakened against the greenback on Tuesday as fresh tensions emerged between Washington and Beijing.