Reported 12 months ago
Despite the weakening of the US Dollar index due to Federal Reserve Chairman Powell's dovish stance, Asian currencies remain generally weak, especially the Japanese Yen. Currencies International Bank analysts suggest that before Japan raises interest rates, the Yen will be difficult to rebound in the short term, making it a good time for people to enter the market for currency exchange. To seize the opportunity for a favorable exchange rate, it is advisable to exchange at the end of the month when the New Taiwan Dollar is relatively stronger. The Yen fell to 161.89 Yen against the US Dollar on the third, approaching the 162 Yen level, while the New Taiwan Dollar continued to depreciate, reaching a low of 32.7 against the Dollar. Foreign exchange outflows have contributed to this trend, with Asian currencies showing initial gains but subsequently weakening due to increased outflows to the US Dollar.
Source: YAHOO