The U.S. dollar got a fresh jolt to start the week as speculation around potential trade deals sparked an extraordinary spike in Taiwan’s currency and reverberated across global foreign exchange markets.
Already under pressure as U.S. President Donald Trump’s economic agenda dents attitudes around American assets, the greenback weakened further on Monday against most major currencies. A Bloomberg gauge of the dollar wrapped up the session in New York about 0.2% lower after paring earlier declines.
Taiwan’s dollar led gains among the 16 major peers tracked by Bloomberg, earlier jumping the most in more than three decades on an intraday basis. The yen rallied some 0.9%, leading the advance among the Group of 10, while the euro pushed above the $1.13 mark. China’s markets were closed for a public holiday.
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