Taipei, Aug. 18 (CNA) – The U.S. dollar ended higher against the Taiwan dollar on Monday, closing at NT$30.056, up NT$0.046 from the previous session. The closing figure also marked the day’s high point, as the greenback rebounded from early weakness during trading.
According to market data, total turnover on the Taipei forex market reached US$890 million. The U.S. dollar opened at NT$30.030, dropped to a session low of NT$30.006 in morning trading, and then regained strength throughout the day before ending at the peak level.
Currency traders observed that the modest appreciation of the U.S. dollar reflected steady demand from importers and investors seeking safe-haven assets amid global uncertainties. While the Taiwan dollar initially showed resilience, the rebound of the greenback highlighted market caution in trading ahead of key U.S. economic data expected later this week.
Analysts noted that external factors, including the Federal Reserve’s monetary policy outlook and fluctuations in regional stock markets, influenced Monday’s forex market trading. Globally, a stronger U.S. dollar often exerts downward pressure on Asian currencies, including the Taiwan dollar.
Market watchers will continue monitoring upcoming U.S. inflation and employment figures, which could provide insights into interest rate trends and the direction of capital flows. For Taiwan, the strength of the local currency remains critical for exporters, particularly in the semiconductor and technology sectors that dominate the island’s trade.
The close at NT$30.056 underscores the volatility in the forex market, with the Taiwan dollar oscillating in a narrow but reactive trading band throughout the session.
(By Frances Huang)
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