THE Philippine peso ended Thursday at 45-level against the dollar, the second time it did this week, ahead of the release of US’ May 2015 retail sales report later in the day.
It shed P0.24 and ended the day at 45.15 from day-ago’s 44.91.
A trader said markets are awaiting the retail sales report because this would be a factor once the Federal Reserve decides on its rates this month.
US retail sales last April was flat at 1.1 percent.“Dealers loaded up on their dollar holdings ahead of the report with hopes that the retail sales report would be positive and would be a factor for a possible hike in Fed rates next week,” the trader said.
The local unit’s weakness was seen early in the day after it opened flat at 45.00. Its strongest for the day stood at 44.97 while weakest stood at 45.15.
This brought the day’s average to 45.03. Volume of trad reached USD 683.9 million, slightly higher than the USD 546.61 million a day ago.
For Friday, the currency pair is seen to trade between 44.90 and 45.10. pna
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