Peso ends eight-day losing streak

 

The peso on Monday was able to stem eight consecutive days of weakness against the dollar as a result of weak economic data from the US.
The local currency gained 9 centavos at P47.650:$1 from Friday's finish of 47.740.

"It bounced back. The peso corrected after several days of weakness," Astro C. del Castillo, managing director at First Grade Finance Inc., said in a phone interview.

In a separate market recap, BPI Asset Management  noted the Philippine currency "... strengthened vis-à-vis the greenback as investors took profits following the weak manufacturing and retail data in the US." – VS, GMA News