Home NewsForex Market News Asian currency depreciated, Japanese yen broke 150, Taiwan dollar closed down 32.107 yuan | Anue Juheng-Forex

Asian currency depreciated, Japanese yen broke 150, Taiwan dollar closed down 32.107 yuan | Anue Juheng-Forex

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Asian currency depreciated, Japanese yen broke 150, Taiwan dollar closed down 32.107 yuan | Anue Juheng-Forex


U.S. bond yields soared, accelerating economic recession worries, Asian currencies scrambled to depreciate, especially the Japanese yen fell below the 150 mark, Taiwan stocks once again became the target of foreign withdrawals today (20), the stock exchange doubled, the New Taiwan dollar against The U.S. dollar closed at 32.107 yuan, down 8.5 cents, with a turnover of 1.155 billion U.S. dollars. It closed at 32 yuan for two consecutive days after an interval of nearly six years.

Taiwan stocks broke the bottom to 12,698.91 points in intraday trading today, but after midday, the buying market entered the market to lift up the weighted stocks. TSMC and UMC both pulled their tails and closed at the highest price of the day. The decline of the broader market index converged and ended at 12,946.1 points, down 30.66 points. However, foreign capital continued to show no mercy, and sold more than 12.727 billion yuan, a total of 37.35 billion yuan of Taiwan stocks were sold in four days.

U.S. bond yields soared, Asian currencies all collapsed, the onshore renminbi fell below 7.24 to the US dollar, and after the offshore renminbi fell below 7.27, it was reported that the Chinese government plans to relax the quarantine restrictions on inbound travelers, the offshore renminbi rebounded to 7.2324, although However, the market betting on the offshore RMB breaking the 7.3 mark is still high; the Japanese yen has depreciated to 150.07, constantly hitting a new 32-year low.

The Federal Reserve’s hawkish rate hikes have led to the US dollar’s dominance, and this year has also set off a wave of devaluation of the Asian currency. The Taiwan dollar has fallen from 27 yuan at the beginning of this year to 32 yuan. It reappeared at 32 yuan in 2019. Today, the heaviest intraday price plunged 1.42 points and tumbled to 32.164 yuan. Although the final decline slightly converged to 8.5 points and closed at 32.107 yuan, it can be seen that the depreciation trend is difficult to reverse. 32 yuan A short-term new normal has been established.

New Taiwan dollar against the US dollar trend. (Picture: Juheng.com)

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