Peso loses over 21 centavos vs. dollar

The peso carved a losing streak against the dollar on Thursday, losing more than 21 centavos at P46.44: $1, as housing consumption in the US improved.

On Wednesday a dollar bought P46.225.

"The weakening of the peso was caused by an even improved US consumption, as shown by the improved growth in houses bought by Americans in March, signaling a stronger American consumer base," Metis Etrade noted in an emailed commentary.

"This strong consumption data made the peso less appealing than the dollar, despite an uptick in the Philippine stock market," said Mayumi Teves, currency analyst at MetisEtrade. – VDS, GMA News