TWD Ends at 32.278, Down 4.7 Cents Amid Range-Bound Trading

The New Taiwan Dollar (TWD) opened at 32.25 (down 1.9 cents) on the 11th, briefly rising to a high of 32.174, easing pressure near the 32.5 level seen earlier. However, it turned lower in the afternoon, closing at 32.278, down 4.7 cents from the previous day. The trading volume at Taipei Foreign Exchange Corporation reached USD 1.422 billion.

The intraday range was from 32.174 to 32.302, a spread of 1.28 cents, indicating continued range-bound consolidation in the foreign exchange market.

Among major Asian currencies, the Thai baht was the weakest, depreciating about 0.5%, while the TWD fell 0.15%. The Singapore dollar declined nearly 0.1%, and the Chinese yuan and Japanese yen saw minor depreciation of less than 0.05%. The South Korean won slightly appreciated by around 0.05%.

Institutional analysts noted that U.S. non-farm payroll unexpectedly decreased by 23,000, with May-June employment figures revised down by 103,000. Excluding pandemic periods, the labor force participation rate has dropped to its lowest since the 1970s, and the annual wage growth rate hit a five-year low. These signs indicate a labor market slowdown exceeding expectations, which may ease near-term rate hike expectations. Market attention now turns to the upcoming release of July's CPI data in the U.S.