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New Taiwan Dollar Poised to Break 32, Possible Strongest Currency Today

New Taiwan Dollar Poised to Break 32, Possible Strongest Currency Today

The market has been shaken by the U.S. tariff measures, drawing focus to the New Taiwan Dollar's exchange rate. Today (29th), the Taiwan stock market opened lower but rallied nearly 200 points, maintaining above 20,000 points. Notably, the NTD against the USD has surged, closing at 32.22, the highest in over five months. A financial writer on Facebook indicated that the TWD could be crowned as the 'strongest currency today.'

This morning, the dollar index fell below 99, with the opening rate for the NTD at 32.44 and a peak during the day at 32.20, almost hitting 32.1, finally rising by 2.36 cents. The single-day increase reached 0.73%, the largest since August of last year. Additionally, the trading volume returned to 20.11 billion USD. In just a week, the NTD has climbed from 33.2 to 32.22, aided by a weaker USD. According to media reports, foreign exchange managers analyzed that market volatility is easing, but further appreciation requires new catalysts, making the chance to reach 2-digit figures low.

The financial Facebook page '李其展’s Foreign Exchange Trading Success Strategies' pointed out that today, the NTD closed strong at 32.229, showing impressive momentum, almost reaching a six-month high and 'should be regarded as today’s strongest currency.' Comparatively, the yuan has seen a modest rise, while the yen and won remain stable, and no other major currencies show significant strength. The page raised the question, 'When do you think the central bank will intervene? Or is the strong NTD simply a rational performance?'