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Jan 06 - 05:55 AM

EUR/USD - Taiwan's Huge Intervention Will Likely Boost EUR/USD

By Jeremy Boulton  —  Jan 06 - 03:40 AM
  • Taiwan's foreign exchange reserves rose by $16.514 billion in December

  • Fastest monthly rise on record, currency reserves hit $529.911 billion

  • Most central banks diversify FX reserves nT8N2GJ004

  • Portion of USD's purchased sold to buy other, usually liquid currencies

  • EUR is by far most liquid currency and a popular reserve addition

  • Taiwan will not be the only EM/Cbank that moves to stem local ccy gains

  • USD/TWD 27.411 is 76.4% rise from 1995 low to 2009 high

  • 26.98 76.4% rise all-time low to 2009 high. No surprise CB is intervening




USDTWD Click here

Source:
Refinitiv IFR Research/Market Commentary

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