Peso unchanged vs. dollar at P52.65:$1

The Philippine peso closed flat against the US dollar on Monday, after investors bought dollar positions last week.

The local currency closed at P52.65:$1, unchanged from the previous close last Friday.

The peso last week softened as the market expected a delay in the meeting between US President Donald Trump and Chinese President Xi Jinping.

Meanwhile, the dollar depreciated against the yen to 111.89 on Friday from 111.55 previously, following a market decline in US Treasury yields.

The dollar was pinned at 96.583 against a basket of currencies, according to a report by Reuters. — Jon Viktor D. Cabuenas/RSJ, GMA News