The yen against the dollar was the lowest in the session at 146.38, continuing to hit a new 24-year low.

(Photo by reporter Chen Meiying)

[Reporter Chen Meiying/Taipei Report] The exchange rate of the New Taiwan dollar against the US dollar fell below 31.9 yuan in early trading, hitting a new low of 5.5 years. After two consecutive devaluations, the trading volume of Taipei Forex Brokers was US$1.157 billion.

The expansion of the U.S. ban on Chinese chips caused U.S. technology stocks to plummet. Among them, the Philadelphia Semiconductor Index fell for 4 consecutive days, and the TSMC ADR fell another 5.9%. Taiwan stocks were linked and opened lower in the morning. "Wan San", but the government's rescue measures were effective. With foreign capital still selling more than 16.6 billion yuan, it only fell slightly by 24.79 points to close at 13081.24 points.

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Foreign stocks sold remittances and the US dollar index rose. The exchange rate of the New Taiwan dollar fell below 31.9 yuan in early trading, and the lowest touched 31.909 yuan, approaching the integer mark of 32 yuan. The central bank and exporters then entered the market to sell foreign exchange, plus Taiwan stocks fell. Convergence and a sharp rise in the pound in the afternoon, the US dollar's rise was blocked, and the NT dollar turned to rise.

Foreign exchange traders pointed out that the New Taiwan dollar exchange rate dropped to 32 yuan, and the crisis has not been eliminated. Last week, the United States announced good employment data. The market expects that the probability of the Federal Reserve raising interest rates by 3 in November is as high as 80%. This week, there are also consumer prices. The index will be released. If the data is not as good as expected, it will once again deepen the market's doubts about the Fed's violent interest rate hike, which will affect the dollar trend.

The heating up of the Ukraine-Russia war has also caused safe-haven funds to continue to flock to the US dollar, supporting the US dollar in a high-end position.

Observing the divergence of major Asian currencies, the yen against the US dollar was the lowest at 146.38 intraday, hitting a new low in 24 years and falling below the lowest price before the Bank of Japan's intervention. The follow-up attitude of the Bank of Japan has also attracted much attention. Set off another wave of Asian currency devaluation.

The Korean won was inspired by the Bank of Korea to raise interest rates again by 2 yards, leading all Asian currencies to turn red, and today's rise is also the highest among Asian currencies; the offshore renminbi held the 7.2 yuan mark under the shouting of the People's Bank of China, and the intraday low was only 7.1925 to 1 US dollar .

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