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Peso returns to P56:$1 level as US data bolster Fed easing view
Business World Philippines
|September 05, 2025
THE PESO jumped back to the P56 level versus the dollar on Thursday as weaker-than-expected US jobs data fueled expectations of a rate cut by the US Federal Reserve this month.
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The local unit closed at P56.98 per dollar, strengthening by 32 centavos from its P57.30 finish on Wednesday, Bankers Association of the Philippines data showed.
The peso opened Thursday's trading session flat at P57.30 against the dollar, Its intraday best was at its closing level of P56.98, while its worst showing was at P57.32 versus the greenback.
Dollars traded increased to $1.46 billion on Thursday from $1.37 billion on Wednesday.
The peso rose on “reinforced dovish Fed bets after the dismal jobs release overnight,” the first trader said in a phone interview.
“The peso appreciated after the weak US Job openings data continue to fuel views of a September Fed rate cut,” the second trader said in an email.
Esta historia es de la edición September 05, 2025 de Business World Philippines.
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