THE peso recorded its strongest close in over half a year on Wednesday and the stock market also rose for a third straight day, tracking gains elsewhere in the region as US President Donald Trump backtracked on threats to fire Federal Reserve (Fed) chief Jerome Powell and also raised the possibility of lower tariffs against China.
The currency closed at P56.545 to the dollar, up by 13-and-a-half centavos for its best showing since Oct. 4, 2024's P56.295:$1, while the benchmark Philippine Stock Exchange index (PSEi) added 22.89 points, or 0.37 percent, to end Wednesday at 6,168.48.
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