THE peso nearly fell back to the P56:$1 level on Monday while the stock market hit an over two and a half year high, tracking regional movements on Monday in the wake of last week's jumbo Federal Reserve rate cut.
The currency weakened by 28 centavos to close at the day's high of P55.97 against the dollar, joining other Asian currencies that slipped as the greenback stayed above the one-year low hit after the US central bank kicked off an easing cycle by announcing a 50-basis point cut.
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