The US dollar slid to a seven-month low against the euro and a six-week trough against the yen on Friday, after US economic data indicated the fourth quarter had made a sluggish start. \nThe decline shattered the tight ranges in which the dollar has traded in for months against the euro, adding a dose of momentum investors have long been wishing for. \nMarket watchers are now waiting to see if the dollar will move to new lows against the euro -- and the yen -- next week or if it will climb back into the US$1.1950-US$1.2460 range in which the dollar had been stuck since May. There are no major US data announcements Monday. In late trading, the euro was at US$1.2476 from US$1.2390 late Thursday. The dollar was at ¥109.17 from ¥109.58 Thursday and at a three-month low of SF1.2324 against the Swiss franc from SF1.2443 late Thursday. \nThe British pound climbed to US$1.8036 from US$1.7967. \nIn one of the more volatile sessions seen in months, the euro's initial surge came shortly after the release of Federal Reserve Bank of New York's Empire State manufacturing survey, which slipped to a reading of 17.43 this month from 27.26 last month. The consensus forecast had been 25.6. \nThe dollar then suffered fresh losses following the release of mid-October's University of Michigan index, which showed consumer confidence dipped to 87.5 from last month's 94.2. Forecasts had indicated a 94.6 reading. \nThese moves sent the dollar to an intraday low of ¥108.81 and pushed the euro up as far as US$1.2505. The dollar got some relief after Federal Reserve chairman Alan Greenspan said that current record high oil prices would eventually "wash over." However, the Fed chairman also warned that consumer spending could be affected if oil prices stay put. \nIt was the first time Greenspan has spoken publicly since the release of the weak nonfarm payrolls data last Friday. Following Greenspan's comments, the euro slipped back below what had been the key resistance point of US$1.2460, but the single currency lifted again during afternoon trading. \nSteven Englander, chief currency strategist at Barclays Capital in New York said the dollar had lifted on the Fed chair's comments because he gave no indication the high oil prices would affect rate-tightening decisions. \n"The market was looking to see if Greenspan would at least give a nod to the idea that the effects of oil prices on the economy are strong enough to influence monetary policy, which he didn't do," Englander said. \nThe dollar's ups and downs had investors trying to work out where the dollar would go next. \nWhile the dollar was lower across the board against major currencies, it ended more or less flat against commodity currencies. The US dollar was at 1.2521 Canadian dollars from C$1.2553 late Thursday and the Australian dollar was at US$0.7301, slightly higher from US$0.7281 late Thursday.
DEVELOPING TALENT: The electronics contractor is looking to recruit people to work in core tech fields and emerging industries like electric cars and robotics Hon Hai Precision Industry Co (鴻海精密), the world’s largest contract electronics maker, has launched a recruitment drive, offering a monthly salary of no less than NT$45,000 (US$1,485) to university graduates. For those with a master’s degree, the starting pay would be NT$52,000 per month at the minimum, while doctorate degree holders would receive at least NT$60,000 a month, Hon Hai said a statement issued early this week. The latest recruitment drive is aimed at attracting talent in core technology fields — artificial intelligence, semiconductors and next-generation mobile communications — and emerging industries — electric vehicles, digital healthcare and robotics, the
MRT TRAVEL FALLS: In February, ridership on the Taipei MRT System fell 8.96 percent from an average of 2.01 million per day in January Scooter sales jumped 13 percent last month as more commuters turned to two-wheelers to avoid public transportation amid the COVID-19 pandemic, the latest statistics showed. Sales expanded to 74,493 units last month, compared with 65,913 units in February, statistics released on Wednesday by Kwang Yang Motor Co (光陽工業) and the Ministry of Transportation and Communications showed. In the first quarter, aggregate sales slid 0.51 percent year-over-year to 186,627 units, from 187,580 units, data showed. Kwang Yang, the nation’s biggest scooter manufacturer, continued to lead the market by selling 24,136 vehicles last month, growing 6.12 percent from 20,785 units in the previous month, while
Asustek Computer Inc (華碩), the nation’s leading PC vendor, yesterday launched its first dual-screen gaming laptop powered by Intel Corp’s latest central processing units (CPUs). The PC manufacturer’s announcement closely followed the US chipmaker’s unveiling of its 10th Generation Core H-series, the fastest commercial mobile processors with speeds of up to 5 gigahertz. Although Asustek’s Zephyrus Duo 15, the highlight of its Republic of Gamers line, is not the company’s first laptop with two screens, it is its first designed specifically for gaming. Nestled between the primary display panel and the keyboard, the secondary display, which Asustek calls the ScreenPad Plus, is angled
NO ILL EFFECT: Last month’s data mainly reflected deals made in February, when the spread of COVID-19 was still relatively mild in Taiwan, housing brokers said Housing transactions in the six special municipalities totaled 19,824 units last month, up 7.8 percent from a year earlier, brokers said, citing government data. Last month’s data mainly reflected deals made in February, when the pinch of the COVID-19 pandemic was not yet evident, they said. Taoyuan posted the largest improvement, with housing transactions soaring 36.6 percent year-on-year to 3,676 units, local government data showed. Taiwan Realty Co (台灣房屋) attributed the pickup to the completion of two presale residential projects in the municipality. Houses in Taoyuan have increasingly gained in popularity in the past few year years due to relatively affordable home prices and