Peso retreats anew

The peso weakened slightly against the dollar, pressured by corporate demand for the greenback and the continuing political uncertainty,

At the Philippine Dealing System (PDS), the peso ended nine centavos lower at 49.890 from Wednesday’s close of 49.800 to the dollar. It hit an intraday low of 49.965 after opening at 49.800 to the dollar. The weighted average stood at 49.904 on a volume of $124.40 million.

Traders said pressure on the peso remained amid the political uncertainty.

They said the overall market mood remains bleak ahead of Mr. Estrada’s impeachment trial.

"The view is it’s going to take long. It’s hard to see a fair trial in limited amount of time," analyst said. "There’s really no quick and easy exit for him, short of a resignation."