The dollar goes up!

Hovering near the NT$30.5 checkpoint (photo by reporter Chen Meiying)

[Reporter Chen Meiying/Taipei Report] The market’s expectations for the Fed’s interest rate hike increased, which supported the U.S. dollar. The U.S. dollar index once again stood at 102. The New Taiwan dollar opened at 30.54 against the U.S. dollar early in the morning, a new low in a week. It fell into consolidation near 30.5 yuan, and temporarily closed at 30.505 yuan at noon, depreciating by 1.1 cents, with a trading volume of 655 million US dollars.

Before the TSMC legal meeting, negative rumors such as cutting orders and slowing investment were flying all over the sky. TSMC’s sluggish trend dragged down the market index to below 15,900 points. The exchange rate of the New Taiwan dollar against the US dollar also continued to rise. It rebounded to 30.493 yuan, but the appreciation momentum is not strong, and the NT dollar is showing a slow depreciation trend. In the afternoon, we will observe the trend of foreign capital.

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Looking at the major Asian currencies, the Japanese yen and the Korean won continued to weaken, and the Chinese yuan turned from depreciation to appreciation after China announced that the annual GDP growth rate in the first quarter was 4.5% better than expected.

The U.S. has entered a super earnings week, which will affect the performance of the stock market. The market is waiting for the TSMC Law to give an explanation on the market outlook.

In addition, the employment data, inflation rate and retail sales previously announced by the United States were all better than expected, and the market’s expectations for the Fed’s interest rate hike have also increased, which also provides support for the trend of the dollar, and pay close attention to the speeches of many voting Fed officials this week , hoping to find guidance from it.

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