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Peso rebounds on Fed hopes.
Byline: Ann Rozainne R. Gregorio
THE PESO rebounded against the dollar yesterday, buoyed by anticipation of a new stimulus measure from the Federal Reserve to stimulate the slackening US economy.
After dropping three centavos to close at P41.93 per dollar last Monday, the local unit gained 21 centavos to settle at P41.72 per dollar on Tuesday.
"The peso and other Asian currencies appreciated on speculation the Fed will hold another round of quantitative easing (QE) to support the ailing US economy," a trader said in a phone interview.
The Federal Open Market Committee - the policy-setting body of the Federal Reserve - will meet from July 31 to …
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