Reported about 1 year ago
On June 21, 2024, the New Taiwan Dollar exchange rate closed at 32.369, depreciating by 4.1 points, breaking the two-week winning streak and marking the second consecutive week of decline. The US released new employment data showing a slowdown in the labor market, prompting expectations of a rate cut by the Federal Reserve. This, along with rising US bond yields, led to the strengthening of the US dollar, causing Asian currencies to weaken. Despite an initial decline in the New Taiwan Dollar exchange rate and a negative turn in the Taiwan stock market, the currency's depreciation was mitigated by increased foreign exchange inflows, ending the day at 32.369 with a total transaction value reaching 19.455 billion US dollars. The currency remained volatile amidst factors such as forthcoming US economic data releases, Middle Eastern tensions, and Taiwan stock market performance influencing its movement.
Source: YAHOO