The Philippine Peso kept to a winning streak for the third straight session on Thursday as the political woes hounding US President Donald Trump weakened the dollar. The local currency gained 22 centavos to close at P51:$1 from 51.22 on Wednesday. Bank of the Philippine Islands lead economist Emilio Neri Jr. noted the "sustained struggles of Donald Trump in Washington." The dollar remained sluggish after Trump said he would be willing to risk a government shutdown to secure funding for a wall along the US-Mexico border, a report by Reuters said. The report added that Trump's threats to end the North American Free Trade Agreement (NAFTA), after the first-round talks that ended on Sunday failed to bridge differences, also undermined the US currency. Land Bank of the Philippines market economist Guian Angelo Dumalagan said Trump's NAFTA comments helped buoyed the peso. ? VDS, GMA News
08-26-2017, 11:11 PM
Peso gains strength from Trump's woes
The Philippine Peso kept to a winning streak for the third straight session on Thursday as the political woes hounding US President Donald Trump weakened the dollar. The local currency gained 22 centavos to close at P51:$1 from 51.22 on Wednesday. Bank of the Philippine Islands lead economist Emilio Neri Jr. noted the "sustained struggles of Donald Trump in Washington." The dollar remained sluggish after Trump said he would be willing to risk a government shutdown to secure funding for a wall along the US-Mexico border, a report by Reuters said. The report added that Trump's threats to end the North American Free Trade Agreement (NAFTA), after the first-round talks that ended on Sunday failed to bridge differences, also undermined the US currency. Land Bank of the Philippines market economist Guian Angelo Dumalagan said Trump's NAFTA comments helped buoyed the peso. ? VDS, GMA News
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