The Taiwanewse dollar has rocketed higher.
This is reigniting specualtion that some Asian countries are planning to revaule their currencies as a move to gain concession from the US on tariffs (a higher currency makes a country’s exports more expensive, at the margin).
The USD is lower across the board today. Including against the Chinese yuan. While China is on holiday today offshore yuan, of course, continues to trade. The Hong Kong dollar tested the strong end of its allowable trading band.
USD/TWD:
USD/CNH is circa 7.1963
This article was written by Eamonn Sheridan at www.forexlive.com.
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