The TWD surged by seven cents, Taiwan's Central Bank clarified: The appreciation of the New Taiwan Dollar is not due to pressure from the United States.

The New Taiwan Dollar has recently appreciated significantly against the US Dollar, falling from 33.2 at the beginning of April to 31.2 today, a 5% appreciation over the month, with a rise of 0.7 today alone. The Taiwan Central Bank has rarely issued a press release, stating that recent reports by some media claimed that the United States requested the appreciation of the New Taiwan Dollar and mentioned specific exchange rates, which is contrary to the facts.

The TWD breaks above 32, Central Bank: The US request for TWD appreciation is inconsistent with the facts.

The Central Bank of Taiwan has issued the following statement regarding the appreciation of the New Taiwan Dollar:

1. Since January 9, (, the United States has been conducting trade negotiations with countries such as Japan and South Korea. Some media have mentioned the Mar-a-Lago Accord, and speculated that when negotiating tariffs with major trading partners, the United States may request that the currencies of these trading partners appreciate.

Second, it is reported that recently U.S. Treasury Secretary Janet Yellen and Japanese Finance Minister Shunichi Suzuki held discussions on exchange rate issues. U.S. Treasury Secretary Yellen stated that U.S.-Japan trade talks would not mention specific exchange rate targets, but hoped Japan would respect the G7 agreement and refrain from competitive devaluation of its currency to gain unfair trade advantages. Subsequently, Japanese officials also emphasized that the U.S. side did not discuss target exchange rate levels, and both parties confirmed that exchange rates should be determined by the market, and excessive exchange rate fluctuations would harm the economy.

Since 2021, the U.S. Treasury's exchange rate policy reports have indicated that no major trading partners have engaged in competitive devaluation to gain an unfair competitive advantage, and therefore no country has been accused of being a currency manipulator.

4. The U.S. Department of the Treasury has not requested an appreciation of the New Taiwan Dollar. Domestic media reports claiming that the U.S. has requested the appreciation of the New Taiwan Dollar are inconsistent with the facts. Our communication channels with the U.S. Department of the Treasury are smooth, and in the future, both parties will continue to exchange views on issues such as overall economic and exchange rate policies based on good interaction.

5. For a long time, the exchange rate of the New Taiwan Dollar against the US Dollar has been relatively stable compared to other major currencies. Our bank will continue to strive to maintain the dynamic stability of the New Taiwan Dollar and closely monitor the dynamics of the international financial market.

The US dollar briefly fell below 140 against the Japanese yen, then rose again to 145.

U.S. Treasury Secretary Yellen stated on April 26 that she had a very constructive meeting with Japanese Finance Minister Kato Katsunobu and acknowledged that there were discussions regarding exchange rates.

Very constructive talks with Minister of Finance Katsunobu Kato of Japan.

I was pleased to follow up on previous reciprocal trade discussions between the United States and Japan, as well as to discuss matters pertaining to exchange rates.

Looking forward to our next… pic.twitter.com/9B8Q5Ny7Ri

— Treasury Secretary Scott Bessent )@SecScottBessent( April 26, 2025

However, judging by the market's reaction, the USDJPY) briefly fell below 140 at the end of April, but has recently slowly risen back above 145.

The Bank of Japan maintained its policy settings unchanged on Thursday (5/1) and delayed the timeline for reaching its inflation target, citing trade wars as a risk factor. According to a Bloomberg survey, observers of the Bank of Japan predict that interest rate hikes will be postponed, with the likelihood of a rate hike in September dropping from 89% in the last survey to 45%.

Is selling off the US dollar triggering a multi-kill market? Is the Central Bank optimistic about it?

However, just because Japan is not pressured by the United States does not mean that Taiwan is not.

The tariff war initiated by Trump has caused investors to withdraw from American assets, leading to a wave of short-selling in the dollar. Meanwhile, the Taiwan Central Bank, which typically does not intervene against appreciation, has not done so this time and seems somewhat optimistic about the situation, which may be the main reason for the significant appreciation of the New Taiwan Dollar!

The New Taiwan Dollar rose sharply by more than seven dimes before the afternoon session today, with a rate of 2.58%, which is rare in history.

Forex traders also indicated that there are no dollar buy orders below, and the appreciation of the New Taiwan Dollar may currently have no limits.

This article states that the TWD surged by seven dimes, and the Central Bank of Taiwan clarified: the appreciation of the New Taiwan Dollar is not due to pressure from the United States, first appearing in Chain News ABMedia.