The euro weakened from a five-week high against the yen and declined versus the US dollar amid renewed speculation that some banks in the region may incur deeper losses spurred by the global financial crisis.
The 16-nation currency dropped from the highest versus the yen since Aug. 10 and snapped a four-day gain against the US dollar. The spread between Ireland’s government securities and benchmark debt elsewhere in Europe widened to records amid speculation banking losses may spur a need for external assistance.
The yen headed toward the sharpest weekly loss since mid-July against the US dollar after Japan’s sale on Wednesday to weaken its currency and bolster an export-led economic recovery.
The euro fell 0.3 percent to ¥111.84 as of 4:34pm in New York, after appreciating to as much as ¥112.98. The euro fell 0.3 percent to US$1.3041 after climbing to US$1.3159, the highest level since Aug. 11.
The yen was little changed at ¥85.77 per US dollar.
The Australian dollar was little changed at US$0.9369 and the New Zealand dollar gained 0.2 percent to US$0.7256.
The pound had its first weekly gain in six versus the US dollar as speculation the Fed may increase asset purchases to support the economy weakened the US currency and boosted assets perceived to be higher risk.
Sterling reached a one-month high versus the greenback as the FTSE-100 Index of British shares had its fourth weekly advance.
The pound rose 1.8 percent on the week to US$1.5635 as of 4:30pm in London on Friday, after reaching US$1.5729, its highest level since Aug. 11. Against the euro, it depreciated 1 percent.
‘CROWN JEWEL’: Washington ‘can delay and deter’ Chinese President Xi Jinping’s plans for Taiwan, but it is ‘a very delicate situation there,’ the secretary of state said US President Donald Trump is opposed to any change to Taiwan’s “status quo” by force or extortion and would maintain that policy, US Secretary of State Marco Rubio told the Hugh Hewitt Show host on Wednesday. The US’ policy is to maintain Taiwan’s “status quo” and to oppose any changes in the situation by force or extortion, Rubio said. Hewitt asked Rubio about the significance of Trump earlier this month speaking with Taiwan Semiconductor Manufacturing Co (台積電) chairman C.C. Wei (魏哲家) at the White House, a meeting that Hewitt described as a “big deal.” Asked whether the meeting was an indication of the
‘RELATIVELY STRONG LANGUAGE’: An expert said the state department has not softened its language on China and was ‘probably a little more Taiwan supportive’ China’s latest drills near Taiwan on Monday were “brazen and irresponsible threats,” a US Department of State spokesperson said on Tuesday, while reiterating Washington’s decades-long support of Taipei. “China cannot credibly claim to be a ‘force for stability in a turbulent world’ while issuing brazen and irresponsible threats toward Taiwan,” the unnamed spokesperson said in an e-mailed response to media queries. Washington’s enduring commitment to Taiwan will continue as it has for 45 years and the US “will continue to support Taiwan in the face of China’s military, economic, informational and diplomatic pressure campaign,” the e-mail said. “Alongside our international partners, we firmly
KAOHSIUNG CEREMONY: The contract chipmaker is planning to build 5 fabs in the southern city to gradually expand its 2-nanometer chip capacity Taiwan Semiconductor Manufacturing Co (TSMC, 台積電), the world’s biggest contract chipmaker, yesterday confirmed that it plans to hold a ceremony on March 31 to unveil a capacity expansion plan for its most advanced 2-nanometer chips in Kaohsiung, demonstrating its commitment to further investment at home. The ceremony is to be hosted by TSMC cochief operating officer Y.P. Chyn (秦永沛). It did not disclose whether Premier Cho Jung-tai (卓榮泰) and high-ranking government officials would attend the ceremony. More details are to be released next week, it said. The chipmaker’s latest move came after its announcement earlier this month of an additional US$100 billion
Authorities yesterday elaborated on the rules governing Employment Gold Cards after a US cardholder was barred from entering Taiwan for six years after working without a permit during a 2023 visit. American YouTuber LeLe Farley was barred after already being approved for an Employment Gold Card, he said in a video published on his channel on Saturday. Farley, who has more than 420,000 subscribers on his YouTube channel, was approved for his Gold Card last month, but was told at a check-in counter at the Los Angeles International Airport that he could not enter Taiwan. That was because he previously participated in two
RSS