Peso recovers on US income data

The peso bounced back from a three-day losing streak Friday, as data on US personal income fell short of expectations.

 

The local currency gained 5 centavos to 45.085:$1 from the previous close of 45.135.

 

"Personal income [in the US] increased by 0.5 percent, lower than the projected 0.6 percent. This influenced the US dollar to appreciate," said MetisEtrade Inc. analyst Cherica Vicente.

 

The greenback strengthened over the past three days on strong economic data that support a possible interest rate increase in the US as early as September. – Keith Richard Mariano/VS, GMA News