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abtest
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A weaker peso and expensive oil favor energy and dollar earners while increasing pressure on property, consumption and valuations.
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President Marcos and his economic managers are addressing the impact of a weaker peso on the prices of goods, Malacañang said yesterday, after the local currency hit a record low in the face of rising fuel prices and stronger dollar.
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The peso weakened to another record low yesterday, closing at 62.40 against the dollar as expectations of rising treasury yields in the United States, tighter Federal Reserve policy and elevated oil prices continued to favor the greenback.
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