FX.co ★ Taiwanese Dollar Hits Near 3-Year High

On Monday, the Taiwanese dollar appreciated to approximately 29.6 per U.S. dollar, continuing its upward trajectory from the previous week and marking its strongest position since June 2022. This performance surpassed that of most Asian currencies, amid speculation that the Trump administration is exerting pressure on regional economies to enable currency appreciation relative to the U.S. dollar. Within Taiwan, the economic outlook has notably improved. Preliminary data indicates that GDP grew by 5.37% year-on-year in the first quarter of 2025, significantly exceeding market predictions of 3.3% and rising from 2.9% in the preceding quarter. This represents the most robust growth in a year, driven by strong domestic demand and a favorable contribution from net exports. The latter benefited from changes in global trade dynamics following the announcement of new U.S. tariffs.