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Peso touches P58.80 to the dollar; stock market rally also snapped

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THE 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.

THE 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.The currency touched the P58.80:$1 close last seen on Nov. 3, 2022, and ended the day 27 centavos weaker at P58.79 against the greenback.Rizal Commercial Banking Corp.

92 percent, and ended the day at 6,458.64.The broader All Shares index also fell by 0.71 percent, or 24.69 points, to 3,467.24.Claire Alviar, research associate at Philstocks Financials Inc., said the 'bourse lost ... as investors took some gains following the market's three consecutive days of rally.

 

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