Singapore Bank: Taiwanese exporters selling US dollars and risk-hedging operations help drive up the New Taiwan dollar.

Singapore bank pointed out that under the optimistic expectations of trade negotiations, Taiwanese exporters are selling US dollars and insurance companies are increasing their forex hedging operations, thereby driving the strong appreciation of the New Taiwan Dollar against the US dollar. The reduced intervention by the "Taiwan Central Bank" in the foreign exchange market may also be one of the reasons for the appreciation of the New Taiwan Dollar.