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The Philippines peso again weakened past the 57:$1 threshold, closing at 57.11:$1 on Wednesday, as financial markets here and abroad felt the impact of higher-than-expected inflation in the United States.
Earlier this month, the peso hit new all-time weakest levels for five trading days in a row to as deep as 57.18:$1 on Sept. 8.
Following that, the local currency strengthened back to the 56:$1 levels to as strong as 56.77:$1 on Sept. 13.
Yesterday, the peso lost 34 centavos to the US dollar as the latest inflation reading in the United States—at 8.
