THE PESO continued to rally against the dollar on Wednesday, hitting a one-month high, supported by the Philippine stock market’s climb amid improving risk sentiment and hawkish signals from the central bank. This was its best close in almost a month or since it finished at P61.36 a dollar on June 30. The local unit opened Wednesday’s session slightly weaker at P61.65 per dollar, which was already its worst showing. Meanwhile, it climbed to a high of P61.35 against the greenback. The PSEi tested the 6,400 level intraday, hitting a peak of 6,436.11, but profit taking kicked in to trim gains before the closing bell.