Reported 9 months ago
On June 26, 2024, at 4:10 pm, a Federal Reserve Board member expressed a hawkish stance, stating no rush to cut interest rates, leading to foreign capital retreating to the US and the depreciation of major Asian currencies. The US dollar surged following the Fed's remarks, causing the yen to drop below the 160 yen mark against the dollar and the New Taiwan Dollar to plummet by 1.1 points, breaking through 32.5 yuan in the morning session and closing at 32.554 yuan, marking the lowest level in nearly two months. The market reacted to speculation of potential Japanese intervention as the yen hit its lowest level since 1986.
Source: YAHOO