Forex
Peso Slips as Traders Eye US Data for Fed Policy Clues
The Philippine peso depreciated against the US dollar on Wednesday as traders positioned themselves ahead of key US economic data releases. The local currency weakened by 7.5 centavos to close at PHP 62.64 from its previous finish of PHP 62.565.
The peso's decline came despite opening stronger at PHP 62.50 per dollar, which was also its intraday high. Its weakest showing was PHP 62.67 against the greenback.
Dollars traded decreased to USD 1.426 billion from USD 1.484 billion on Tuesday.