The US dollar fell to a one-month low against the euro on speculation a surge in oil prices to a record will accelerate inflation while slowing economic growth in the US, the world’s biggest oil importer.
The currency weakened to the lowest level in almost two weeks versus the yen before a government report that will probably show falling US house prices. The Australian dollar traded near its highest since being allowed to trade freely in 1983 as investors sought the nation’s higher-yielding debt.
The dollar fell to US$1.5801 per euro, the lowest level since April 24, before trading at US$1.5799 at 9:53am in Tokyo from US$1.5795 in New York on Friday. The currency slid to ¥102.79, the lowest level since May 12, before trading at ¥102.83 from ¥103.05. The euro fell to ¥162.46 from ¥162.76.
The US currency may fall to US$1.59 per euro and ¥101 in one month, Umemoto said.
The yen remained higher against the dollar after a Japanese government report showed export growth quickened last month. Overseas shipments, the driver of more than half of last quarter’s expansion, rose 4 percent from a year earlier.
The dollar traded at US$1.9723 against the British pound from US$1.9732, and was at 1.0245 versus the Swiss franc from SF1.0250. The Dollar Index traded on ICE futures in New York, which tracks the dollar against currencies of six trading partners, fell to 71.932, from 71.938 on Friday.
Beijing’s continued provocations in the Taiwan Strait reveal its intention to unilaterally change the “status quo” in the area, the US Department of State said on Saturday, calling for a peaceful resolution to cross-strait issues. The Coast Guard Administration (CGA) reported that four China Coast Guard patrol vessels entered restricted and prohibited waters near Kinmen County on Friday and again on Saturday. A State Department spokesperson said that Washington was aware of the incidents, and urged all parties to exercise restraint and refrain from unilaterally changing the “status quo.” “Maintaining peace and stability across the Taiwan Strait is in line with our [the
EXTENDED RANGE: Hsiung Sheng missiles, 100 of which might be deployed by the end of the year, could reach Chinese command posts and airport runways, a source said A NT$16.9 billion (US$534.93 million) project to upgrade the military’s missile defense systems would be completed this year, allowing the deployment of at least 100 long-range Hsiung Sheng missiles and providing more deterrence against China, military sources said on Saturday. Hsiung Sheng missiles are an extended-range version of the Hsiung Feng IIE (HF-2E) surface-to-surface cruise missile, and are believed to have a range of up to 1,200km, which would allow them to hit targets well inside China. They went into mass production in 2022, the sources said. The project is part of a special budget for the Ministry of National Defense aimed at
READY TO WORK: Taiwan is eager to cooperate and is hopeful that like-minded states will continue to advocate for its inclusion in regional organizations, Lai said Maintaining the “status quo” in the Taiwan Strait, and peace and stability in the Indo-Pacific region must be a top priority, president-elect William Lai (賴清德) said yesterday after meeting with a delegation of US academics. Leaders of the G7, US President Joe Biden and other international heads of state have voiced concerns about the situation in the Strait, as stability in the region is necessary for a safe, peaceful and prosperous world, Lai said. The vice president, who is to be inaugurated in May, welcomed the delegation and thanked them for their support for Taiwan and issues concerning the Strait. The international community
COOPERATION: Two crewmembers from a Chinese fishing boat that sank off Kinmen were rescued, two were found dead and another two were still missing at press time The Coast Guard Administration (CGA) was yesterday working with Chinese rescuers to find two missing crewmembers from a Chinese fishing boat that sank southwest of Kinmen County yesterday, killing two crew. The joint operation managed to rescue two of the boat’s six crewmembers, but two were already dead when they were pulled from the water, the agency said in a statement. Rescuers are still searching for two others from the Min Long Yu 61222, a boat registered in China’s Fujian Province that capsized and sank 1.03 nautical miles (1.9km) southwest of Dongding Island (東碇), it added. CGA Director-General Chou Mei-wu (周美伍) told a