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Peso Surges as Soft US Inflation Data Fuels Rate Hike Fears

Guavy AI Editorial Team
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USD
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The peso strengthened against the US dollar on Wednesday due to expectations of softer US consumer inflation data, which could temper bets for a US Federal Reserve interest rate hike next month.

The currency gained eight centavos to close at P61.18 per dollar from its previous finish of P61.26, according to Bankers Association of the Philippines' website data.

Dollars exchanged decreased to $1.46 billion from $1.599 billion previously, indicating a decline in demand for the greenback.

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