Taiwan markets vibrate amid the high currency to the highest level since the 1980s

The Taiwanese currency jumped by 5% on Monday, in the largest daily profits during a trade session in more than three decades, amid speculation that the exporters convert their ownership of US dollars to the local currency. The Taiwanese dollar has expanded its profits from Friday to reach its strongest in almost three years. On the other hand, Taiwan’s shares for the manufacture of semiconductors, which is one of the most important listed companies, have reduced, which has reduced its 7% profits over the past week, amid the fear that the currency strength will negatively affect export profits. Fear also contributed to the decline of the US dollar prospects to push the huge insurance companies in Taiwan to codify against their dollar debt, which added extra momentum to the local currency. Taiwan Central Bank said it will hold a press conference later on Monday to discuss the sharp rise in the local currency. The monetary body said in a statement that the conference will be held by the Governor of the Central Bank, Yang Chen-Long, at 4:30 pm. Trade movement was very volatile. The amount of US dollar trading against the Taiwanese dollar in Taipei, Monday morning, has jumped to its highest level since the global financial crisis in 2008. Banks are subject to a barrage of inquiries from clients about the sudden rise, which the Cathai United Bank asked to introduce virtual waiting lists through its electronic application to maintain the stability of the system. “The monetary authority does not obstruct in the Taiwan Dollarmark, despite the gains of the currency, there was no evidence that the monetary authority in Taiwan is actively interfering in the market on Monday to reduce its strength, although it usually reduces the severity of fluctuations. Shares have stopped, “says Joe Wang, head of foreign exchange and interest rates for the large China region in BNB Pariba in Hong Kong.” The central bank is still the only buyer, but it has not strongly supported the market, and nourishing that the currency evaluation is part of the trade conversations. Their expectations that the authorities will allow the currency to support a trade agreement with the United States. Drop in the US dollar due to the fear of the effects of the war war in the customs that US President Donald Trump is fighting, which will probably weaken the largest economy in the world. Level, the highest daily rate has reached since 1988 and has risen by more than 10% over the past month. (TSMC) and ‘Vinid -Microoelectronics, all the TSMC), all the TSMC of the TSMC was. 1% in the value of the Taiwanese dollar. Still follow. If you are exposed to the dollar, such as the case of life insurance companies that have only limited or non -sessions, the consequences will be painful, “said Mingzi Wu, Stonex currency trader in Singapore,” The Taiwanese insurance companies are one of the largest US mortgagees in Asia, and it is of course that they are the false home. Taiwanese central banking questions within the trading rooms about whether it adapts its approach to market fluctuations, at a time in which its traditional role is seen as a currency stability. The US economy. He added that “the presence of a Taiwanese currency is more determined by the market forces, can be a useful article in the upcoming trade negotiations.” The US Treasury monitoring for Taiwan. The US Treasury is included in Taiwan on the ‘monitoring list’ of practices related to the foreign exchange market, making the power of the local Taiwanese dollar in international monitoring. The currency can be seen as a positive signal within the context of the upcoming commercial negotiations with Washington. “This could be an appropriate step for the Taiwanese central bank and the state at this stage,” said Woods Chen, chief economist at Yuanta Securities Investment Consulting, could rise the value of the Taiwanese dollar. .