The U.S. dollar rebounded strongly, and the NT dollar backtested the 30-yuan integer mark, and temporarily closed at 29.919 yuan (photo by reporter Chen Meiying)

[Reporter Chen Meiying/Taipei Report] U.S. labor data was unexpectedly good, which led to a strong rebound in the US dollar. The market is concerned about this week’s Federal Reserve Chairman Jerome Powell’s public talks. It dropped to 29.965 yuan, and it was about to retest the 30 yuan integer level. After that, the depreciation trend converged, and it temporarily closed at 29.919 yuan at noon, a depreciation of 1.9 cents. The turnover of Taipei foreign exchange brokerage companies was 636 million US dollars.

The United States announced last week that non-agricultural employment increased by 571,000 in January, which was far better than the forecasts of all circles and almost doubled from the previous month. U.S. stocks plummeted, the U.S. dollar index bounced back to 103, Taiwan stocks gapped and fell more than 100 points today, and the NT dollar exchange rate had already depreciated last Saturday. After touching 29.965 yuan, the depreciation trend converged, and it once turned from depreciation to upward during the session, reaching a maximum of 29.89 yuan, and it is currently sorting out around 29.9 yuan.

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Foreign exchange traders pointed out that after the Lantern Festival, currency funds have been returned to the banking system one after another, and the tightness of Taiwan dollar funds has eased slightly. Last week, the market was celebrating that the Fed’s interest rate hike was coming to an end. After the release of the non-agricultural employment data, the market revised expectations. In the short-term, observe foreign capital trends and Powell's public speech on Tuesday. It is not ruled out that the Taiwan dollar may backtest the 30-yuan integer level.

Observe that major Asian currencies also depreciated more. Among them, the Japanese yen continued to depreciate today after breaking through the 130-dollar mark. After the relegation, it went up slightly.

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