The US dollar fell to a one-month low against the euro on speculation a surge in oil prices to a record will accelerate inflation while slowing economic growth in the US, the world’s biggest oil importer.
The currency weakened to the lowest level in almost two weeks versus the yen before a government report that will probably show falling US house prices. The Australian dollar traded near its highest since being allowed to trade freely in 1983 as investors sought the nation’s higher-yielding debt.
The dollar fell to US$1.5801 per euro, the lowest level since April 24, before trading at US$1.5799 at 9:53am in Tokyo from US$1.5795 in New York on Friday. The currency slid to ¥102.79, the lowest level since May 12, before trading at ¥102.83 from ¥103.05. The euro fell to ¥162.46 from ¥162.76.
The US currency may fall to US$1.59 per euro and ¥101 in one month, Umemoto said.
The yen remained higher against the dollar after a Japanese government report showed export growth quickened last month. Overseas shipments, the driver of more than half of last quarter’s expansion, rose 4 percent from a year earlier.
The dollar traded at US$1.9723 against the British pound from US$1.9732, and was at 1.0245 versus the Swiss franc from SF1.0250. The Dollar Index traded on ICE futures in New York, which tracks the dollar against currencies of six trading partners, fell to 71.932, from 71.938 on Friday.
TECH EFFECT: While Chiayi County was the oldest region in the nation, Hsinchu county and city, home of the nation’s chip industry, were the youngest, the report showed Seven of the nation’s administrative regions, encompassing 57.2 percent of Taiwan’s townships and villages, became “super-aged societies” in June, the Ministry of the Interior said in its latest report. A region is considered super-aged if 20 percent of the population is aged 65 or older. The ministry report showed that Taiwan had 4,391,744 people aged 65 or older as of June, representing 18.76 percent of the total population and an increase of 1,024,425 people compared with August 2018. In June, the nation’s elderly dependency ratio was 27.3 senior citizens per 100 working-aged people, an increase of 7.39 people over August 2018, it said. That
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A Control Yuan member yesterday said he would initiate an investigation into why the number of foreign nationals injured or killed in traffic incidents has nearly doubled in the past few years, and whether government agencies’ mechanisms were ineffective in ensuring road safety. Control Yuan member Yeh Ta-hua (葉大華) said in a news release that Taiwan has been described as a “living hell for pedestrians” and traffic safety has become an important national security issue. According to a National Audit Office report released last year, more than 780,000 foreign nationals were legally residing in Taiwan in 2019, which grew to more than
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