Peso edges lower; PSEi lifted by bargain-hunting

By The Manila Times

Jun 16, 2023 12:25 am

THE peso looked set to return to the P56:$1 level on Wednesday but managed to limit its fall to half a centavo following a US Federal Reserve (Fed) decision to pause from hiking interest rates.

The currency, which closed at the day's low of P55.945 against the dollar, opened at P56 and traded as high as P56.1. Volume fell to $729 million from the previous day's $881 million.

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