MANILA, Philippines — The Philippine peso slid to a fresh record low in early Thursday trading as the dollar strengthened following the Federal Reserve’s decision to keep interest rates unchanged. Meanwhile, the persisting conflict in the Middle East continued to fuel demand for safe-haven assets.
The local currency touched an intraday low of 61.75 per dollar, breaching the previous record of 61.67 set a day earlier.
The greenback gained against major peers after the Fed’s announcement. Investor anxiety persisted as the conflict involving the United States, Israel and Iran showed little sign of easing.
