THE PESO inched higher against the dollar on Wednesday as the market awaits the release of the December US consumer price index (CPI) data, which could affect the US Federal Reserve’s policy easing cycle.
The local unit closed at P58.575 per dollar on Wednesday, rising by 4.5 centavos from its P58.62 finish on Tuesday, Bankers Association of the Philippines data showed.
The peso opened Wednesday’s session slightly weaker at P58.65 against the dollar. Its intraday best was its closing level of P58.575, while its worst showing was at P58.70 versus the greenback.
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