TAIPEI: Taiwan dollar’s biggest rally in almost a quarter of a century is set to unwind as a looming global recession cuts into the island’s technology exports.
The currency, which has risen more than 4% this month to 30.90 per US dollar (RM4.52), will probably weaken to about 33 by the end of the first quarter, Mizuho Bank Ltd and RBC Capital Markets forecast, as overseas shipments shrink for a second straight month.
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