The US dollar posted its first monthly gain since June versus the currencies of major US trading partners as the US Federal Reserve moved closer to withdrawing stimulus measures that helped cause the greenback to fall 4.2 percent for the year.
The dollar advanced to a three-month high against the yen and rallied versus the euro after the Fed said at the conclusion of its Dec. 16 meeting that job losses are “abating.” The greenback pared its annual decrease against the Australian dollar and Norwegian krone as a surge in Treasury yields made the US currency less attractive as a funding vehicle for the purchase of higher-yielding assets.
The dollar appreciated 4.8 percent to US$1.4321 per euro on Thursday, from US$1.5005 at the end of November, paring its loss for last year to 2.5 percent. The US currency advanced 7.7 percent to ¥93.02, from ¥86.41, and gained 2.6 percent for the year. It touched ¥93.15 on Thursday, the highest level since Sept. 7. The euro increased 2.7 percent to ¥133.20 last month and advanced 5.1 percent last year.
The pound posted its first annual gain against both the dollar and the euro since 2006 last year and gilts had their first loss in a decade as evidence mounted that the UK is emerging from its longest recession on record.
The UK currency rose 1.1 percent against the US dollar in the holiday-shortened week to US$1.6138 as of 3:30pm on Thursday in London, extending its gain for the year to 11 percent. At the end of 1999, the pound traded at US$1.6182. The pound climbed 1.7 percent since last week to £0.8873 per euro, appreciating 7.9 percent in the 12 months.
Asian currencies strengthened this year, led by Indonesia’s rupiah and South Korea’s won, as regional economies led the recovery from a global slump.
The New Taiwan dollar strengthened 2.6 percent to NT$32.03 versus the greenback, the best annual performance since 2004. It reached a 15-month high of NT$31.948 on Thursday.
Elsewhere, India’s rupee gained 4.4 percent this year to 46.64 per dollar, Thailand’s baht rose 4.1 percent to 33.33, Singapore’s dollar climbed 3.1 percent to S$1.4014, and the Philippine peso advanced 2.8 percent to 46.225. China’s yuan and Hong Kong’s dollar were little changed at 6.8270 and 7.7551, respectively.
Taiwan last night blanked world No. 1 Japan 4-0 to win the World Baseball Softball Confederation’s (WBSC) Premier12 for the first time. Taiwanese ace Lin Yu-min (林昱珉) held defending champions Japan to just one hit and no runs in the first four innings, before catcher Lin Chia-cheng (林家正) opened the fifth inning with a solo home run. That was soon followed by a three-run homer from Taiwanese captain Chen Chieh-hsien (陳傑憲) to put Taiwan ahead in the prestigious tournament of the world’s top 12 baseball teams. In addition to a superb performance from 21-year-old Arizona Diamondbacks prospect Lin, three more Taiwanese pitchers
SUPPORT: Arms sales to NATO Plus countries such as Japan, South Korea and Israel only have to be approved by the US Congress if they exceed US$25m The US should amend a law to add Taiwan to the list of “NATO Plus” allies and streamline future arms sales, a US commission said on Tuesday in its annual report to the US Congress. The recommendation was made in the annual report by the US-China Economic and Security Review Commission (USCC), which contained chapters on US-China economic and trade ties, security relations, and Taiwan and Hong Kong. In the chapter on Taiwan, the commission urged the US Congress to “amend the Arms Export Control Act of 1976 to include Taiwan on the list of ‘NATO Plus’ recipients,” referring to
Taiwan yesterday advanced to the gold medal match of the World Baseball Softball Confederation’s (WBSC) Premier12 for the first time in history, despite last night losing 9-6 to Japan. Taiwan advanced after the US defeated Venezuela in the first game on the last day of the Super Round. However, the US had no chance of advancing to the championship game unless it defeated Venezuela by at least nine points. The US won 6-5. As a result, the two teams — who both had one win and two losses in the Super Round — are to face off again in the
Minister of Labor Ho Pei-shan (何佩珊) said she would tender her resignation following criticism of her handling of alleged bullying by Ministry of Labor Workforce Development Agency branch director Hsieh Yi-jung (謝宜容) resulting in the death of an employee. The ministry yesterday gave Hsieh two demerits and said she is subject to review by the Disciplinary Court. The severest possible punishment would be her removal from office and being barred from government jobs indefinitely. Workforce Development Agency Director-General Tsai Meng-liang (蔡孟良) also received a major demerit and was transferred to another position. Premier Cho Jung-tai (卓榮泰) issued a formal apology
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