Peso continues to strengthen vs dollar

MANILA, Philippines - The peso continued to strengthen against the dollar yesterday due to improved investor sentiment arising from the improving jobs report in the US.

Analysts said investors had their first chance to react to Friday’s US Labor Department report showing the unemployment rate holding steady at 9.7 percent in February despite adverse winter conditions.

The peso appreciated to 45.74 to $1 before closing at 45.76 to $1 or six centavos stronger than the closing of 45.82 to $1 last Monday.

The peso opened at 45.85 to $1 and weakened to an intra-day low of 45.90 to $1. Volume of transactions amounted to $735.24 million from Monday’s $1.129 billion.