Group 1 - Asian currencies experienced significant appreciation, negatively impacting exporters and putting pressure on stock markets, prompting central banks to intervene [1][3] - The New Taiwan Dollar saw its largest increase since 1988, leading to the biggest drop in Taiwan's benchmark stock index in nearly a month [1][3] - The offshore Renminbi reached its highest level in nearly six months as exporters repatriated dollar earnings [1][3] Group 2 - The Bloomberg index measuring Asian currencies recorded its largest increase since 2022, while an index for emerging market currency returns hit an all-time high [3] - The New Taiwan Dollar surged approximately 5%, driven by speculation that exporters and retailers were selling dollars amid expectations of further dollar depreciation [3] - Taiwan's monetary authorities intervened in the market, urging foreign investors and large exporters to delay dollar sales [3][4] Group 3 - Traders are closely monitoring potential further currency interventions, especially after the Hong Kong dollar tested the strong end of its trading range against the US dollar [4] - The appreciation of Asian currencies is also driven by investors withdrawing funds from the US dollar, amid concerns over Trump's tariffs potentially raising inflation and harming the economy [4] - Analysts suggest that due to the pressure on the US dollar and rising recession risks, the risk-reward profile for maintaining dollar deposits appears unfavorable for Asian exporters [4]