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THE peso slightly weakened against the dollar on Friday as markets waited for details of a trade tariff deal between the US and China.
THE PESO weakened against the dollar on Wednesday following its rally amid better-than-expected US data reported late Tuesday.
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 National Government’s outstanding debt rose 1.73% or P135.03 billion from a month earlier to P7.939 trillion as of end-August, due to the peso’s depreciation and net issuances of both external and domestic loans, the Treasury bureau said in a statement on Friday.
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.