The U.S. dollar fell back, and Asian currencies rose together!

The New Taiwan dollar rose by 2.03 cents and temporarily closed at 30.645 yuan (photo by reporter Chen Meiying)

[Reporter Chen Meiying/Taipei Report] The slowdown in wage growth in the United States, coupled with the explosion of cryptocurrency banks Silvergate and SVB Silicon Valley Bank, the market’s expectations that the Federal Reserve will accelerate interest rate hikes faded, the US dollar fell, Asian currencies rose, and the exchange rate of the Taiwan dollar against the US dollar It rose above 30.8 yuan and 30.7 yuan in the morning, and temporarily closed at 30.645 yuan at noon, a strong increase of 2.03 yuan. The turnover of Taipei foreign exchange brokerage company was 830 million US dollars.

After closing down last Friday, the U.S. dollar index continued to fall below the 104 mark this morning.

The head of Huiyin pointed out that although the United States announced last week that the number of non-agricultural employment increased by 310,000 in February, wage growth slowed down and the unemployment rate rebounded. Both slipped with the dollar.

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According to CME Group's FedWatch tool, investors in the futures market are betting that the probability of the Fed raising interest rates by 2 yards in March is about 40%, which has previously soared to more than 70%.

In addition, the European Central Bank will hold an interest rate meeting this week. The market expects that the European Central Bank will continue to raise interest rates by 2 yards and accelerate the shrinking of its balance sheet. The European Central Bank's hawkish attitude will strengthen the euro. weakened.

With the U.S. dollar falling, Asian currencies rose today, but Asian stock markets were generally under pressure. Taiwan stocks fell more than 100 points at the opening, mainly because two banks closed down one after another within a week. Although the Fed urgently announced the takeover of SVB, the market is still worried It will lead to systemic financial risks. However, after Taiwan stocks opened lower, they took the lead in turning from black to red, and the future market will observe the trend of foreign capital.

The head of Huiyin pointed out that the US inflation rate will be announced this week, which, like the employment data, is a key indicator of whether the Fed will raise interest rates. The quality of the data will affect the trend of the international financial market and increase the volatility of the financial market.

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