The local currency closed at P53.845 versus the greenback on Thursday, appreciating by 63 centavos from Wednesday’s P54.475 finish, data from the Bankers Association of the Philippines’ website showed. READ:
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“The peso led Asian currencies against the dollar following the market’s dovish interpretation of Fed Chair Jerome H. Powell’s press conference,” a trader said in a Viber message. “We can now say for the first time that the disinflationary process has started,” Mr. Powell told reporters after the end of the Fed’s latest two-day policy meeting, with goods prices slowing, pandemic-related shortages easing, and supply chains getting back to normal. “This is a good thing.”
The dollar dived following Mr. Powell’s remarks. Against a basket of currencies, the US dollar index fell to a fresh nine-month low of 100.80 on Wednesday.Mr. Ricafort added that the Bureau of the Treasury’s announcement of a retail Treasury bond offering also supported the local currency against the dollar.
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Peso returns to P53:$1 levelAfter finishing at P54.475:$1 on Wednesday, the local currency gained 63 centavos to close at P53.845:$1. This is the strongest for the peso in over seven months, or since June 17, 2022, when it closed at P53.75: $1.
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Peso strengthens to P53 vs dollar, easing imported inflation pressuresThe Philippine currency gains strength as the US central bank shows signs of easing interest rate hikes.
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Peso breaks P53:$1The peso regained lost grounds on Thursday, Feb. 2, to close at P53.845 vis-à-vis the US dollar, and touching the P53-level for the first time since June 2022.
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Peso rebounds vs dollar as US data support bets of less hawkish FOMC - BusinessWorld OnlineTHE PESO rebounded against the dollar on Wednesday as slower US employment and housing data supported expectations of a less hawkish policy stance by the Federal Reserve. The local currency closed at P54.475 versus the greenback on Wednesday, appreciating by 16.5 centavos from Tuesday’s P54.64 finish, data from the Bankers Association of the Philippines’ website […]
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