ING’s Lynn Song highlights Taiwan’s record trade performance, with the September surplus hitting US$23.6bn on a 60.9% year-on-year export surge, largely driven by tech-related machinery and electrical equipment. Despite strong exports, equities and foreign inflows, the Taiwan Dollar has remained relatively subdued, reflecting outward corporate investment, capital outflows due to yield differentials, and active FX stability measures by Taiwan’s central bank.
Ripple (XRP) sellers are gaining ground on Thursday, as the token slips below $1.40. Sell-side pressure remains intense in the broader crypto market, as seen with leading digital assets, including Bitcoin (BTC) currently below $83,000 and Ethereum (ETH), sliding below $2,600.
ING’s Chris Turner notes the Dollar remains supported after September FOMC minutes showed a Federal Reserve still expecting another rate hike this year.