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Peso may weaken with Fed seen pausing rate cuts
Business World Philippines
|January 12, 2026
THE PESO could weaken further against the dollar this week as US jobs data bolstered expectations that the US Federal Reserve could choose to pause its easing cycle this month.
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On Friday, the local unit closed at P59.245 per dollar, declining by 7.5 centavos from its P59.17 finish on Thursday, data from the Bankers Association of the Philippines showed.
Week on week, the peso fell by 40.4 centavos from its P58.841 close on Jan. 2.
"The dollar-peso moved within a familiar range on cautious trading ahead of the US nonfarm payrolls (NFP) data release," a trader said in a phone interview on Friday.
The dollar was also generally stronger on Friday due to higher global crude oil prices and as players await the US Supreme Court's (SC) ruling on the legality of the increased tariffs implemented on Liberation Day, Rizal Commercial Banking Corp. Chief Economist Michael L. Ricafort said in a Viber message.
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