Group 1 - The core viewpoint of the articles highlights the collective appreciation of Asian currencies against the US dollar, driven primarily by the rapid appreciation of the New Taiwan Dollar, influenced by foreign capital inflows and concerns over currency stability [1] - The appreciation of the New Taiwan Dollar is attributed to several factors, including a rebound in the Taiwan stock market, significant foreign investment converting dollars to New Taiwan Dollars, and Taiwanese exporters selling dollars out of fear of further appreciation [1] - The US long-term bond yields experienced a rapid increase, initially thought to be due to hedge fund activities, but later investigations by US regulators denied this, indicating a loss of confidence in the stability of US assets [1] Group 2 - The uncertainty surrounding the US dollar stems from two main factors: rising recession risks due to US tariff policies and increasing inflation expectations, leading to a decoupling of the dollar from US bond yields [2] - The negative correlation between the dollar and US bond yields suggests that as more bonds are sold, yields rise while the dollar index declines, with Morgan Stanley predicting a potential further decline of 6% in the dollar index [2] - Concerns over the US government's trade policies, particularly the attempt to eliminate trade deficits through tariffs, may disrupt the existing dollar liquidity cycle, prompting fears of a collective appreciation of Asian currencies as a response to these pressures [3]
观点|为什么近期亚洲货币升值?
Sou Hu Cai Jing·2025-05-09 12:00