The Philippine peso weakens further on Monday, setting a new record low versus the U.S. dollar as demand for the greenback rises. The currency closes at 62.86 per dollar, extending its slide and surpassing a prior record-low close of 62.68 set on Sept. 11. During the session, it briefly trades as weak as 62.875, before paring some losses.
The decline is linked to broader foreign-exchange moves in which investors price in potential interest-rate actions by major central banks, including the U.S. Federal Reserve. Both reports describe the dollar as steady to stronger against key peers, adding pressure on the peso. One outlet also notes that trading activity is lower than the previous session, with volume falling to about $969.22 million from $1.1 billion, while the other highlights the peso crossing the 62.8-per-dollar threshold early in the week and reaching an intraday low around 62.865.
