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MODEL PORTFOLIO THE GIST
NEWS AND FEATURES
Global Philippines Fine Living
INSIGHTS
INVESTMENT STRATEGY
Economy Stocks Bonds Currencies
THE BASICS
Investment Tips Explainers Retirement
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2024 Mid-Year Economi Briefing, economic growth in the Philippines
2024 Mid-Year Economic Briefing: Navigating the Easing Cycle
June 21, 2024
Investing with Love
Investing with Love: A Mother’s Guide to Putting Money to Work
May 15, 2024
retirement-ss-3
Investor Series: An Introduction to Estate Planning
September 1, 2023
View All Webinars
DOWNLOADS
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Economic Updates
Policy Rate Updates: Closer to BSP’s Goldilocks moment
October 9, 2025 DOWNLOAD
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Economic Updates
Inflation Update: Speeds up but remains below target
October 7, 2025 DOWNLOAD
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Monthly Economic Update: Fed back on track   
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BusinessWorld 3 MIN READ

Peso weakens as volatility hits markets

September 10, 2025By BusinessWorld
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The peso dropped versus the dollar on Tuesday as global markets were hit with volatility due to political concerns in various countries and prospects of a US Federal Reserve rate cut next week.

The local unit closed at PHP 56.98 against the greenback, weakening by 29 centavos from its PHP 56.69 finish on Monday, Bankers Association of the Philippines data showed.

The peso opened Tuesday’s session almost flat at PHP 56.69 versus the dollar. It climbed to as high as PHP 56.66, while its worst showing was at PHP 57 against the greenback.

Dollars traded increased to USD 1.72 billion on Tuesday from USD 1.32 billion on Monday.

“The dollar-peso had a corrective bounce during the London session amid political uncertainty in France. The peso tracked the dollar’s strength during the session,” a trader said in a phone interview.

The peso corrected following its over one-month high close on Monday due to political concerns here and abroad and before the release of US inflation reports that could further support a Fed cut next week following the weak jobs data released recently, Rizal Commercial Banking Corp. Chief Economist Michael L. Ricafort said in a Viber message.

For Wednesday, the trader sees the peso moving between PHP 56.80 and PHP 57.20 per dollar, while Mr. Ricafort expects it to range from PHP 56.85 to PHP 57.10.

Overnight, US Treasury yields declined with the dollar on the prospects of lower interest rates and investors around the world grappled with political uncertainty in countries from Japan and Indonesia to France and Argentina.

A heavy election defeat for Argentina President Javier Milei’s ruling party in Buenos Aires province sent the Argentine peso to a record low.

Japanese Prime Minister Shigeru Ishiba resigned on Sunday, ushering in a potentially lengthy period of uncertainty at a shaky moment for the world’s fourth-largest economy, prompting the yen to fall against the dollar.

France’s fourth prime minister in less than two years, Francois Bayrou, lost a confidence vote on Monday, and parliament brought down the government in the euro zone’s second-largest economy over its plans to tame the ballooning national debt, deepening a political crisis.

And in Indonesia, stocks gave up early gains to finish down more than 1%, while the rupiah rose after Finance Minister Sri Mulyani Indrawati was ousted in a cabinet shake-up.

US investors were focused on the prospects for easier monetary policy, however, after Friday’s weaker than expected US labor data for August appeared to seal the case for a Federal Reserve interest rate cut this month. Traders’ expectations of more aggressive Fed easing are gradually increasing. — A.M.C. Sy with Reuters

This article originally appeared on bworldonline.com

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