The US dollar and yen fell versus all of their major counterparts as concern eased about a Greek default and European and US reports signaled the economic recovery is accelerating, fueling appetite for riskier assets.
The euro touched a one-month high versus the greenback as stocks gained for a second week. The yen fell against all 16 of its most-traded peers as Japanese officials said the government is ready to intervene to keep the currency from strengthening.
The US dollar slid 1 percent to US$1.3769 per euro in New York, from US$1.3626 on March 5. It touched US$1.3796 on Friday, its weakest level against the 16-nation currency since Feb. 11. The yen depreciated 1.4 percent to ¥124.69 per euro, from ¥123 a week ago. The greenback rose 0.3 percent to ¥90.56, its second weekly gain, and reached ¥91.09 on Friday, its highest level since Feb. 23.
The pound fell for a fourth consecutive week against the euro, the longest run of declines since July, on concern the next UK government may not be strong enough to cut the country’s burgeoning budget deficit.
The pound weakened about 0.6 percent against the euro in the week to £90.58 per euro as of 5:03pm in London on Friday. Sterling climbed 0.3 percent against the greenback to US$1.5187.
Asian currencies rallied this week, led by the Malaysian ringgit and South Korea’s won, as improving economic data and reduced concern about Greece’s debt crisis spurred demand for regional assets.
The ringgit strengthened 1.9 percent from its March 5 close to 3.301 per US dollar, according to data compiled by Bloomberg. It was the biggest weekly gain in five months and the currency on Friday touched a 19-month high of 3.300. The won climbed 1.1 percent to 1,128.20, the Philippine peso rose 0.9 percent to 45.65 and Indonesia’s rupiah appreciated 0.7 percent to 9,155.
The New Taiwan dollar appreciated 0.6 percent this week to NT$31.840 against its US counterpart at the 4pm close, according to Taipei Forex Inc. It touched NT$31.727 on Friday, the strongest level since Feb. 6.
The Thai baht gained 0.2 percent in the past week to 32.57 against the US dollar.
ROLLER-COASTER RIDE: More than five earthquakes ranging from magnitude 4.4 to 5.5 on the Richter scale shook eastern Taiwan in rapid succession yesterday afternoon Back-to-back weather fronts are forecast to hit Taiwan this week, resulting in rain across the nation in the coming days, the Central Weather Administration said yesterday, as it also warned residents in mountainous regions to be wary of landslides and rockfalls. As the first front approached, sporadic rainfall began in central and northern parts of Taiwan yesterday, the agency said, adding that rain is forecast to intensify in those regions today, while brief showers would also affect other parts of the nation. A second weather system is forecast to arrive on Thursday, bringing additional rain to the whole nation until Sunday, it
CONDITIONAL: The PRC imposes secret requirements that the funding it provides cannot be spent in states with diplomatic relations with Taiwan, Emma Reilly said China has been bribing UN officials to obtain “special benefits” and to block funding from countries that have diplomatic ties with Taiwan, a former UN employee told the British House of Commons on Tuesday. At a House of Commons Foreign Affairs Committee hearing into “international relations within the multilateral system,” former Office of the UN High Commissioner for Human Rights (OHCHR) employee Emma Reilly said in a written statement that “Beijing paid bribes to the two successive Presidents of the [UN] General Assembly” during the two-year negotiation of the Sustainable Development Goals. Another way China exercises influence within the UN Secretariat is
LANDSLIDES POSSIBLE: The agency advised the public to avoid visiting mountainous regions due to more expected aftershocks and rainfall from a series of weather fronts A series of earthquakes over the past few days were likely aftershocks of the April 3 earthquake in Hualien County, with further aftershocks to be expected for up to a year, the Central Weather Administration (CWA) said yesterday. Based on the nation’s experience after the quake on Sept. 21, 1999, more aftershocks are possible over the next six months to a year, the agency said. A total of 103 earthquakes of magnitude 4 on the local magnitude scale or higher hit Hualien County from 5:08pm on Monday to 10:27am yesterday, with 27 of them exceeding magnitude 5. They included two, of magnitude
Taiwan’s first drag queen to compete on the internationally acclaimed RuPaul’s Drag Race, Nymphia Wind (妮妃雅), was on Friday crowned the “Next Drag Superstar.” Dressed in a sparkling banana dress, Nymphia Wind swept onto the stage for the final, and stole the show. “Taiwan this is for you,” she said right after show host RuPaul announced her as the winner. “To those who feel like they don’t belong, just remember to live fearlessly and to live their truth,” she said on stage. One of the frontrunners for the past 15 episodes, the 28-year-old breezed through to the final after weeks of showcasing her unique