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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.
THE PESO depreciated on Thursday as fears of a global recession gripped financial markets following the inversion of the US Treasury yield curve.
THE PESO is seen to move sideways this week amid a lack of fresh leads, with the market to be on the lookout for the latest currency news from China.
THE PESO weakened further, returning to the P52-per-dollar level, as markets continued to react to lingering US-China trade tensions.
THE PESO declined against the dollar on Thursday after the US Federal Reserve cut benchmark rates.
THE PESO will likely move sideways against the dollar ahead of the possible policy easing of the US Federal Reserve.