Peso weakens further as allayed Fed fears power up dollar

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Peso weakens further as dollar gains on allayed Fed fears

By: Ian Nicolas P. Cigaral - Reporter / @IanCigaral

Philippine Daily Inquirer / 07:20 PM July 17, 2025

Peso sinks further as cautious Fed bets power up dollar: Forex closing July 17, 2025

Forex closing July 17, 2025

MANILA, Philippines – The peso sank deeper into the 57:$1 level on Thursday, as the dollar gained strength after US President Donald Trump had said he won’t fire Federal Reserve chair Jerome Powell at this time.

READ: Trump says not firing Fed chair — but not ruling out

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The clarification allayed market concerns about the rumored removal of Powell, who is under continued pressure from Trump to lower interest rates.

The local currency ended the trading session at 57.29, shedding 20.5 centavos from its previous finish.

Total trade volume amounted to $1.92 billion, up from yesterday’s $1.58 billion. /dda

READ: PSEi sinks below 6,300 amid tariffs, peso travails

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