Peso opens at 44.45:$

ABS-CBN News

Posted at Jun 23 2008 09:54 AM | Updated as of Jun 23 2008 05:54 PM

The peso opened at 44.45 to the US dollar on Monday, down from Friday's close of 44.35:$.

Major Asian currencies ended last week mainly up against the US dollar as a US interest rate hike was seen as less likely.

Fed chief Ben Bernanke has signalled that the central bank may shift to an inflation-fighting stance in view of soaring energy and food prices. But there are doubts in the market about the chances of a series of interest rate rises by the Fed this year given ongoing worries about the health of the US financial sector and the wider economy. With Agence France-Presse