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Taiwan currency's surge is a 'warning shot' for Asia's de-dollarization, analysts say
By Xiaofei Xu and Ralph Jennings
South China Morning Post, Hong Kong
Wednesday, May 7, 2025
The New Taiwan dollar's recent surge, along with the appreciation of other Asian currencies, suggests a deepening of regional de-dollarization as investors rethink their investments in the U.S. currency amid Washington's "extremely predatory" behavior toward foreign countries, analysts said.
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Economies like Taiwan's, with a historically high exposure to assets denominated in U.S. dollars, have taken a foreign exchange-led hit after the American currency weakened in recent weeks, wrote Francesco Pesole, foreign exchange strategist at Dutch bank ING, in a note on Tuesday.
"Local players are now seeking greater U.S. dollar hedging, as well as starting to diversify away from U.S. investments," he added.
The shift from U.S. assets is likely to contribute to the continued devaluation of U.S. dollars, supporting a "bearish narrative" for the currency, Pesole added. ...
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