The yen and the renminbi continue to break the bottom!

The NTD depreciated by more than 1 cent, and the lowest touched 32.164 yuan (photographed by reporter Chen Meiying)

[Reporter Chen Meiying/Taipei Report] After the exchange rate of the New Taiwan dollar against the U.S. dollar officially fell below the 32 yuan mark yesterday, as the yen and the renminbi continued to break the bottom, Taiwan stocks once fell by more than 200 points. More than 1 corner, the lowest hit 32.164 yuan, a new low since January 2017.

The U.S. 10-year bond yield soared past 4.136%, the highest since July 2008. The inversion of 10-year and 2-year U.S. bond yields intensified. , non-US currencies are generally under pressure.

Among them, the yen hit a minimum of 149.9 to the US dollar, approaching the 150 mark, and continued to explore a new low of 32 yuan; the offshore RMB also deepened concerns about China's economic recession and continued capital outflows, depreciating below 7.27 to the US dollar, setting a new low since the transaction.

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The exchange rate of the New Taiwan dollar opened at 32.04 today, and then plummeted to a minimum of 32.164 yuan. Exporters turned to wait and see.

Although the central bank has taken 4 major measures to stabilize foreign exchange, Yang Jinlong, the president of the central bank, also stated previously that he "will not operate against the trend" and will only enter the market in a timely manner to slow down the fluctuation of the foreign exchange market.

The head of HSBC believes that with the strong US dollar in the lead, the Japanese yen continuing to decline, and the RMB joining the ranks of competitive devaluation, the NTD exchange rate cannot see an opportunity to stop its depreciation in the short term. Yuan.

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