The peso closed at its strongest level in three weeks in Monday’s trade as investors took their cue from weak US labor data for March and its likely influence on the Federal Reserve’s policy rate.
The Philippine unit strengthened to P44.39 to $1, gaining 19 centavos from P44.58 on April 1, the last day of trade on the Philippine Dealing System (PDS) before the financial markets closed for the Holy Week.
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