The Philippine peso lost ground against its US counterpart on Monday morning in Asia. The peso slumped to a 5-day low of 47.65 against the US dollar by 9:40 pm ET, down 1 percent from Friday's fresh 3-month high of 47.18. The dollar-peso pair that closed last week's trading at 47.235 is presently worth 47.59 with 47.74 seen as the next target level.

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