The last-minute bailout deal between Greece and the European Union (EU) has reduced uncertainty for the global financial markets, reviving risk appetite and drawing investor focus again to a possible US rate hike before the end of the third quarter this year.

Investors have begun shifting money to the US dollar to take advantage of the growing strength of the US currency. At the end of Tuesday’s trade on the Philippine Dealing System, the peso stood at P45.195 to the dollar, weakening from Monday’s close at P45.160.

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