THE PESO appreciated to another over four-month high against the dollar on Thursday as minutes of the US Federal Reserve’s July policy meeting cemented market expectations of a September rate cut in the world’s largest economy.
The local unit closed at P56.333 per dollar on Thursday, strengthening by 16.7 centavos from its P56.50 finish on Wednesday, Bankers Association of the Philippines data showed.
This was the peso’s best finish in more than four months or since its P56.315-a-dollar close on April 2.
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