The peso may continue to move sideways against the dollar this week as players remain cautious over developments in the Middle East.
The local unit closed at P61.29 per dollar on Friday, unchanged from the previous day's close.
Week on week, the peso fell by 51.5 centavos from its P60.775 finish on June 19.
The dollar-peso closed flat and traded within a narrow range of P61.20 to P61.36 due to a lack of catalysts from the market.
The peso was steady even as the dollar was mostly weaker on Friday following the release of US personal consumption expenditures (PCE) price index data.
The dollar fell for a second straight session on Friday as recent economic data and a drop in oil prices slightly cooled expectations for Federal Reserve rate hikes.
Markets are still pricing in an increase in rates of roughly 25 basis points from the Fed this year.
For this week, traders see the peso trading sideways as the market stays cautious on the developments between the US and Iran, and ahead of more key US economic data.
US labor and manufacturing data to be released this week could affect peso trading, according to some analysts.
The peso is expected to move between P61 and P61.50 per dollar this week.
