Home NewsForex Market News Renminbi’s redness led to the end of three consecutive depreciation of the New Taiwan Dollar | Anue Juheng-Forex

Renminbi’s redness led to the end of three consecutive depreciation of the New Taiwan Dollar | Anue Juheng-Forex

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Renminbi’s redness led to the end of three consecutive depreciation of the New Taiwan Dollar | Anue Juheng-Forex


After the RMB turned red, the New Taiwan dollar exchange rate was decoupled from Japanese stocks and foreign exchange rates. Today (17) days, it finally turned into synchronization, with a final appreciation of 1.3 cents to close at 29.981 yuan.

Taiwan stocks closed up 44 points today (17) to close at 15,465.45 points, standing firm on the quarterly line. Foreign capital continued to sell more than 1.926 billion yuan. Since August, the cumulative sales have exceeded 27.1 billion yuan, making the New Taiwan dollar exchange rate intraday. See “3” prefix frequency increased.

While the market is waiting for the minutes of the meeting of the US Federal Reserve to be released, the US dollar index has not changed much, while the RMB has rebounded after falling sharply in the previous two days. 0.22%, showing the strongest Asian currency, driving the New Taiwan dollar to turn from depreciation to appreciation.

Although the Taiwan dollar took a breath today, Goldman Sachs remains bullish on the US dollar. It believes that although the US economic recession is currently high, the recent employment and inflation data remain high, and the Federal Reserve will still reduce inflation pressure as a priority. task, therefore, the dollar is expected to remain strong.

Morgan Stanley also remains bullish on the U.S. dollar, believing that despite the recent weak economic data, the Federal Reserve is hawkish, raising interest rates more than other major central banks, funds will continue to flow into U.S. dollar assets, and the U.S. dollar can continue its bullish trend. .

On the whole, the depreciation trend of the New Taiwan dollar has not changed, and the “3” prefix will become the norm in the intraday market, and the central bank will continue to adjust its strength to defend the defense line at the end of the day.

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