The New Taiwan dollar on Friday fell against the US dollar, losing NT$0.028 to close at NT$29.235.
Turnover totaled US$950 million during the trading session.
The greenback opened at NT$29.210, and moved between NT$29.171 and NT$29.242 before the close.
The local currency lost NT$0.134, or 0.5 percent, from a close of NT$29.101 on Jan. 26.
Elsewhere on Friday, the US dollar reversed earlier falls against the euro as traders took some profits ahead of US nonfarm payroll data, although its rise did little to improve a difficult week in which rising US Treasury yields failed to help.
The eurozone’s economic revival and expectations of monetary tightening have made the single currency more attractive for investors, while strong growth around the world has encouraged investors to move cash out of the US dollar.
Yields on 10-year US Treasuries rose to near a four-year high, with economic growth and buoyant oil prices driving up inflation expectations and central banks starting to sound more hawkish.
Rising Treasury yields are traditionally associated with a stronger US dollar, but Nordea Markets currency strategist Niels Christensen said that “bond investors are selling out of US Treasuries and at the same time liquidating out of their long US dollar positions.”
However, with some euro profit-taking ahead of the nonfarm numbers that were due later on Friday, the US dollar recovered marginally.
Against a basket of currencies, the greenback rose 0.2 percent. Against the euro, it gained 0.2 percent on the day to US$1.2490, but that still left the single currency within sight of last week’s three-year high of US$1.2538.
A survey released on Thursday showed that eurozone manufacturing continued to boom last month, bolstering the view that the European Central Bank (ECB) is on track to normalize monetary policy.
The euro has also benefited from ECB President Mario Draghi’s reluctance to talk down the currency, giving bulls the green light to push the euro higher.
Many strategists have said the US dollar’s sensitivity to domestic news currently looks weak — ING Groep NV analysts called it “limited and short-lived” — as investors focus on monetary policy repricing opportunities elsewhere.
“Today’s US labor market report poses only temporary downside risk to the cross,” ING said in a note on Friday.
Elsewhere, the US dollar added to recent gains against the Japanese yen, helping it move away from a four-month low of ￥108.28 hit a week ago. The US dollar rose 0.4 percent on the day to ￥109.865.
The greenback was also up 0.3 percent against sterling at US$1.4224, although the pound remains on its best run since 2012.
The Chinese yuan continued its recent rise against the US dollar, notching up a high of 6.2773, a two-and-a-half-year high. The yuan is up 0.8 percent for the week and was last trading at these levels in August 2015.
Bitcoin fell to less than US$9,000 for the first time since November last year after India said it did not consider cryptocurrencies legal tender and would look to eliminate their use as payment systems.
The remarks came after regulators in South Korea, China and Russia said they would clamp down on virtual currencies.
Bitcoin is now at US$8,500, compared with its record high of about US$19,500 seen in mid-December last year at the height of a cryptoboom.
Some analysts warned it could fall to US$6,000.
Additional reporting by AFP
NO VIRUS BLUES: A SEMI Taiwan official said that the virus does not slow down the global semiconductor industry’s investment in manufacturing equipment The production value of the nation’s semiconductor industry is expected to grow 16.7 percent this year from last year, outpacing the global industry’s 3.3 percent growth, industry association SEMI said yesterday. That would help Taiwan safeguard its second spot in the global semiconductor market with a production value of more than NT$3 trillion (US$102.73 billion), SEMI Taiwan president Terry Tsao (曹世綸) told a media briefing in Taipei for the Semicon Taiwan trade show beginning today. The global semiconductor industry’s production value is expected to increase to US$426 billion this year, SEMI said. In terms of semiconductor equipment investment, equipment billings from Taiwanese firms
Intel Corp has received licenses from US authorities to continue supplying certain products to Huawei Technologies Co (華為), a company spokesman said yesterday. Washington has been pushing governments around to world to squeeze out Huawei, saying that the telecom giant would hand data to Beijing for espionage. From Monday last week, new curbs have barred US companies from supplying or servicing Huawei. This week, the state-backed China Securities Journal reported that Intel had received permission to supply Huawei. China’s Semiconductor Manufacturing International Corp (SMIC, 中芯國際), which uses US-origin equipment to make chips for Huawei and other companies, last week confirmed that it had sought
INVEST IN TAIWAN: A metal components casting firm and the world’s largest maker of aluminum bicycle rims also obtained approvals to join the program Solar Applied Materials Technology Co (SOLAR, 光洋應用材料), a part of Taiwan Semiconductor Manufacturing Co’s (TSMC, 台積電) “green supply chain,” has pledged to invest NT$1 billion (US$34.1 million) to build a new plant at the Tainan Technology Industrial Park (台南科技工業區), the Ministry of Economic Affairs said yesterday. SOLAR has been collaborating with TSMC to extract precious metals from waste and reuse them as “sputtering target” material in high-end semiconductor manufacturing, a TSMC press release issued in May said. Established in 1978, SOLAR also offers key materials and integrated services to customers in the optoelectronics, information and communications technology, petrochemicals and consumer electronics industries,
‘SWARM TECH’: Joint venture FARobot is to develop autonomous mobile robots that would first be deployed in Hon Hai’s factories to optimize production efficiency Hon Hai Precision Industry Co (鴻海精密) and Adlink Technology Inc (凌華科技) have formed a robotic venture that aims to use “swarm technology” to create robots that can communicate with one another on the factory floor to optimize production efficiency. Hon Hai is Apple Inc’s leading iPhone assembler and the world’s largest contract electronics maker, while Adlink supplies industrial computers and Internet of Things solutions. Through a subsidiary, Hyield Venture Capital Co (鴻揚創投), Hon Hai holds a 51 percent stake in autonomous mobile robot (AMR) developer FARobot (法博智能移動), while Adlink owns the remaining 49 percent. Together, the two companies put up NT$200