Home NewsForex Market News Hot money returns, explosive volume, strong bombs, 1.69 horns, 28.456 yuan, recovering the ground lost in the past 3 days | Anue Juheng

Hot money returns, explosive volume, strong bombs, 1.69 horns, 28.456 yuan, recovering the ground lost in the past 3 days | Anue Juheng

by WOOWinvest
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The U.S. Federal Reserve launched its first rate hike cycle in more than 3 years, as expected by the market, driving investor confidence to warm up. On the line, the exchange rate of the New Taiwan dollar against the US dollar appeared in a long-lost wave of foreign exchange. It broke through the two barriers of 28.6 and 28.5 yuan in one fell swoop, and once rose more than 2 horns. At the end, it bounced 1.69 horns and closed at 28.456 yuan, recovering the lost ground in the past 3 days. The transaction value of Taipei’s foreign exchange market exploded to 1.891 billion US dollars, and the total transaction value of Canadian dollars and foreign exchange reached 2.4815 billion US dollars.

Foreign investors have been buying U.S. dollars recently, causing the exchange rate of the New Taiwan Dollar to depreciate to a new low in more than 1 year and 3 months yesterday. Today, the four consecutive depreciations are finally terminated and a major counterattack is launched. The exchange rate of the New Taiwan Dollar against the U.S. dollar once rose to 28.424 yuan, an appreciation of as much as 2.01 At the same time, the rush of foreign exchange selling led to a surge in the trading volume of the foreign exchange market. The transaction value of the Taipei foreign exchange market was enlarged to US$1.891 billion, and the transaction value of the Yuantai foreign exchange market was US$590.5 million.

U.S. stocks rose sharply on Wednesday, and Taiwan stocks also opened higher and higher today. TSMC, the king of power, bounced more than 4%, and a hundred flowers bloomed. Recovering the annual line, the transaction value was enlarged to 400.8 billion yuan. Foreign investors stopped selling for 4 consecutive years, and they bought more than 44.8 billion yuan, the fourth-highest amount in a single day.

The FOMC ended its two-day interest rate policy meeting. As expected, it announced a 1-yard interest rate hike and hinted that the remaining six interest rate meetings this year will raise interest rates. As for the US GDP growth rate estimate this year, the Fed lowered it to 2.8%, while The inflation forecast was revised up sharply to 4.1% from 2.7% previously.

In addition, the Central Bank of Taiwan also announced earlier that it will follow up on raising interest rates by 1. The re-discount rate, guaranteed lending facility rate and short-term facility rate will be adjusted to 1.375%, 1.75% and 3.625%.

Observing the performance of major currencies, according to the statistics of the central bank, the US dollar index fell 0.65% today, the Korean won rebounded 1.76%, the euro rose 0.79%, the New Taiwan dollar rose 0.59%, the Singapore dollar rose 0.48%, the Japanese yen depreciated 0.25%, and the RMB depreciated slightly 0.02%.

The recent exchange rate trend of the New Taiwan Dollar. (Picture: Juheng.com)

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