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Peso dips on hawkish Fed minutes
Business World Philippines
|November 21, 2025
THE PHILIPPINE PESO weakened against the dollar on Thursday after minutes from the US Federal Reserve's last policy meeting dampened expectations of an interest rate cut next month.
It closed at P59.065 a dollar, down 13 centavos from Wednesday's P58.935, based on Bankers Association of the Philippines data posted on its website. It opened at P59, its intraday best, and fell to a low of P59.11. Dollar turnover slipped to $1.08 billion from $1.39 billion on Wednesday.
“The dollar-peso closed higher, trading sideways but tracking dollar strength following the release of hawkish Fed minutes,” a trader said by phone. “Players trimmed expectations of a December rate cut.”
Another market participant noted that the Fed minutes showed officials were divided over the October policy meeting and raised doubts about the likelihood of a rate cut in December.
Dit verhaal komt uit de November 21, 2025-editie van Business World Philippines.
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