Peso sinks to record low as dollar gains on rate-hike bets

MANILA, Philippines — The Philippine peso extended its record-breaking slide on Monday as expectations for higher interest rates from major central banks boosted the dollar. The peso weakened 18 centavos to 62.86 per dollar, surpassing the previous record-low close of 62.68 set on Sept. 11. The currency touched 62.875 intraday before paring losses. READ: Peso skids