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Peso slides back to P61 level on uncertainty over US-Iran talks
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BusinessWorld Online
THE PESO slid back to the P61-a-dollar level on Tuesday on mixed news about peace talks between the United States and Iran, and as the yen slipped again a day after a joint intervention effort lifted the embattled currency.
It climbed to a high of P60.90, while its worst showing was at P61.222 versus the greenback.
The peso closed weaker to tracking the yen and following US President Donald J. Trump’s statement of a “last chance” for peace talks with Iran, a trader said in a telephone interview.
Against the euro, the yen slipped 0.5% to ¥181.62, down from Monday’s almost nine-month high of ¥179.44.
Investors had sold the dollar after the US Federal Reserve kept rates on hold last week, with its losses accelerating following the yen intervention.