Reported 8 months ago
Due to the depreciation of the euro and Japanese yen, the US dollar index rose to 105.55 on the 14th, reaching its highest point since May 2nd. On the 17th, the New Taiwan dollar to US dollar exchange rate depreciated back to the range of 32.3 to 32.5, temporarily closing at 32.365 at noon, a depreciation of 1.5 points, with a trading volume of $489 million at a Taipei foreign exchange brokerage company. Following a strong rally last week, the Taiwan stock market opened lower today with the weighted index declining by 24.41 points or 0.11%. The US dollar has risen again, while major Asian currencies showed more gains than losses in the morning. The New Taiwan dollar opened with a slight depreciation of 2 points at 32.370 and traded in a narrow range. Foreign exchange traders pointed out that although the market expects the Fed to delay rate cuts until December, if signs of a weakening US economy emerge, there is still the possibility of a rate cut in September. In addition, this week will see a super central bank week with meetings from the Bank of England, Reserve Bank of Australia, and a series of industrial production and retail sales data releases in the US, which investors will closely monitor.
Source: YAHOO