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Forex

Taiwan Dollar Breaks Past NT$31.8 as Stocks and Currencies Rally Together

Guavy AI Editorial Team
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USD
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The Taiwan dollar continued its upward trend against the US dollar on the 27th, breaking through the NT$31.8 level as the Taiwan stock market and other Asian currencies rallied together to multi-week highs.

The currency reached an intraday high of NT$31.74, gaining 7.8 cents, with buying interest pouring in amid the rally in Taiwan equities.

Despite slightly above-expected US inflation data, which showed consumption slowing down, the US Dollar Index retreated to around 99.11 after a brief rebound.

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