Middle East Conflict Fuels Inflation Fears; NT Dollar Rebounds After Dipping Below 31.7
NQ Score
6/100
N1 Content Completeness
7
AI Summary (NQ-processed)
Amid escalating fears over inflation risk due to the stalemate in the Middle East and soaring U.S. bond yields, the New Taiwan dollar faced pressure from continuous hot money outflows. On the 20th, the NTD broke the 31.7 per U.S. dollar level during intraday trading. However, thanks to intervention by the central bank in the final trading session, the currency reversed its losses and closed at 31.643, up by a slight 0.7 cents. The total transaction volume in the Taipei and Yuanta foreign exchange markets surged to a massive US$2.9265 billion.