The peso on Friday closed a tad lower against the dollar ahead of US jobs data that would indicate the direction of the world’s largest economy.

It closed at P44.225 to the dollar, seven-and-a-half centavos weaker than Thursday’s finish.

Currency dealers said the market was waiting for fresh leads that would determine the fate of the peso, which in the past weeks had been largely weighed down by oil price jitters and the volatile movement of US stocks.

The local currency traded within a tight thirteen-centavo range, reaching a low of P44.27:$1 and a high of P44.15 after opening at P44.22. It averaged at P44.213:$1 with $799 million worth of dollars changing hands.

The Philippines’ money supply expanded in May, boosted by the increase of foreign assets and the hike in funds sent home by Filipinos working abroad.

Domestic liquidity—a measure of money supply in the country’s financial system—went up by 3.7 percent in May, surging from just 0.8 percent in April. Increased cash in the financial system is likely to create inflationary pressures, because more funds in circulation lead to higher demand for goods and services which has the effect of boosting prices.