Peso strengthens against dollar amid vaccine hopes and US concerns
The Philippine peso continued to strengthen against the US dollar from July 1 to July 2, 2020.
On Thursday, the peso closed at P49.73:$1 after gaining 9 centavos, buoyed by positive results in Pfizer's experimental coronavirus vaccine trials.
Wednesday saw a slight gain of a centavo for the peso, closing at P49.82:$1 as concerns over rising US coronavirus cases weighed on the dollar.
On Monday, the peso appreciated to close at P49.855:$1 due to some US states reconsidering their reopening plans amid increasing infection rates.
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