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Taishin Financial Group: The appreciation of the New Taiwan dollar is an event, not a trend
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The New Taiwan dollar has appreciated strongly for two consecutive trading days. Taishin Financial Holdings Chief Economist Li Zhenyu said, "This is an event rather than a trend." The two major events that led to the strong appreciation of the New Taiwan dollar were manufacturers' early purchases of goods, which led to exporters' strong foreign exchange selling, and the return of funds invested in U.S. bonds and U.S. stocks.
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