Wall Street gains fuel peso, stocks rebound

By The Manila Times

Jul 04, 2024 12:27 am

THE peso and the stock market posted a rebound on Wednesday following a two-day decline as sentiment rose on hopes that the US Federal Reserve (Fed) could cut interest rates more than once this year.

The currency strengthened by 7 centavos to P58.725:$1 while the benchmark Philippine Stock Exchange index climbed 1.43 percent, or 91.07 points, to close at 6,450.03.

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