The RMB rose above 7! The New Taiwan dollar crossed the 30.5 yuan mark (photo by reporter Chen Meiying)
[Reporter Chen Meiying/Taipei Report]China’s relaxation of lockdown measures and the fall of the U.S. dollar have caused the FOB price of the RMB to break through the 7-yuan mark early in the morning. , the highest rose to 30.456 yuan, a strong increase of 1.4 points.
The U.S. non-agricultural report last week and the strong performance of wage growth once spurred the dollar to rebound, but it fell in late trading as investors carried forward profits before the weekend.
The New Taiwan dollar reflected the weakness of the U.S. dollar earlier this morning. It appreciated by 2.5 cents and was offered at 30.58 yuan. Then the offshore renminbi rose sharply and the Korean won turned from depreciation to appreciation. Since the end of the month, the price has reached a new high in more than 3 months.
Taiwan stocks are not afraid of U.S. stocks closing lower and opening lower and rising higher, regaining the “ten thousand five” again, and the Taipei stock market showed a double up situation.
After the U.S. non-agricultural report, the inflation rate data for November to be released this week will be an important key indicator before the Fed’s December meeting, although the Fed’s Powell has publicly stated that interest rate hikes will be slowed down from December , but how much will the target interest rate at the end be? The chances of a recession next year and when to stop raising interest rates will be the next issues investors will focus on, which will also affect financial market trends.
China’s gradual loosening of the lockdown measures has also driven the exchange rate of the renminbi to continue to rise. The onshore and offshore prices of the renminbi have risen above the 7 to 1 dollar mark in early trading, and the FOB price hit 6.9624, a new high since mid-September.
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