Taiwan dollar trading volumes jumped to a 16-year high as the greenback slumped and foreign demand for local electronics received a boost before US tariffs.
Currency trading volumes jumped to $2.95 billion on Monday, the most since April 2009. That helped the Taiwan dollar rally as much as 0.8% intraday, before trimming the move as state-owned banks were said to have bought the greenback.
Demand for the island’s currency was driven by a pause in President Donald Trump’s tariffs for phones, computers and consumer electronics — goods that are Taiwan’s export staples. However, Commerce Secretary Howard Lutnick and other administration ...
