The yen suddenly dropped! The Taiwan dollar rose and fell, temporarily closing at 32.428 yuan at noon (photo by reporter Chen Meiying)
[Reporter Chen Meiying/Taipei Report]Geopolitical risks are heating up, and the Japanese yen suddenly fell during the Bank of Japan meeting. It once fell below 150 to 1 US dollar. The exchange rate of the New Taiwan dollar against the US dollar plummeted along with the Taiwan stock market, falling to 32.3 yuan at noon. It temporarily closed at 32.428 yuan, depreciating 0.3 cents. The trading volume of Taipei Foreign Exchange Brokerage Company was US$458 million.
The New Taiwan dollar exchange rate reflected the decline in the US dollar index on the previous day. It opened at 32.36 yuan in the morning, an appreciation of 6.5 cents, and rose as high as 32.355 yuan, the highest in the past week. Later, affected by the decline of Taiwan stocks and the heavy fall of the Japanese yen, it fell back again. The price is 32.4 yuan, but due to the strong wait-and-see atmosphere in the market, the Taiwan dollar has not depreciated significantly and is still consolidating within the current range. Whether the decline will expand in the afternoon, pay attention to the trends of Taiwan stocks and Asian currencies and the attitude of the central bank.
The Bank of Japan will meet today. It was reported just a day ago that the Bank of Japan is considering adjusting the Yield Curve Control (YCC), which may allow Japan’s 10-year government bond yield to rise above 1%. This caused the US dollar index to close lower on Monday, and the yen rose to as high as 148.79, but the yen suddenly fell sharply in early trading today. The market is paying close attention to whether there are rumors of an accident.
In addition, the U.S. Federal Open Market Committee (FOMC) is about to meet. As the Israeli-Palestinian conflict escalates into a ground war, oil prices fluctuate at high levels, and the market is worried about the resurgence of inflation. The U.S. 10-year Treasury bond yields fluctuate at high levels, and the market waits for the Federal Reserve meeting Chairman Powell’s statement this week at the November rate decision meeting.
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2023-10-31 04:21:35
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