The currency weakened by 7 centavos to P58.65 against the dollar while the benchmark Philippine Stock Exchange index lost 7.13 points, or 0.11 percent, to end at 6,383.70 on Friday.The broader All Shares, on the other hand, added 0.14 percent, or 4.75 points, to 3,447.75. Philippine Stock ExchangeThe peso opened the day at P58.65:$1 and ranged from P58.555 to P58.69. Volume reached P1.078 billion, lower than the P1.318 billion recorded on Thursday.
'Uncertainty over the direction of the Philippine interest rates in the near term provided negative sentiment, following remarks of Finance Secretary Ralph Recto that the Bangko Sentral ng Pilipinas may only ease monetary policy after the Federal Reserve makes the first cut,' Alviar added.Luis Limlingan, managing director at Regina Capital Development Corp.
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Peso touches P58.80 to the dollar; stock market rally also snappedTHE peso closed at an over 19-month low on Monday as a strong US jobs report drove the dollar higher, and the stock market also fell, with investors said to have taken profits following last week's three-day recovery.
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Peso touches P80 to the dollar; stock market rally also snappedTHE peso closed at an over 19-month low on Monday as a strong US jobs report drove the dollar higher, and the stock market also fell, with investors said to have taken profits following last week's three-day recovery.
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Peso, stock market end week on a positive noteTHE peso strengthened for a second straight day, and the stock market also extended its run of gains to four days at the end of the trading week.
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Peso strengthens, still at P58:$1; stock market climbs to 6,500THE peso regained some ground on Thursday and the stock market also climbed back to the 6,500 level with investors said to have continued digesting lower-than-expected May inflation.
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Peso weakens further; stock market reboundsTHE peso fell for a third straight day on Wednesday, hitting a fresh 19-month low, while the stock market rebounded following lower-than-expected May inflation.
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Peso, inflation seen driving stock marketTHE peso's performance and inflation data due Wednesday will likely drive the stock market's performance this week, analysts said, with investors also looking to bargain-hunt following recent volatility.
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