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Pelosi Trip Starts to Raise Angst in Asia’s Currency Markets
Traders are bracing for US House Speaker Nancy Pelosi’s expected arrival in Taipei Tuesday to raise tension with China, with the Taiwan dollar set to extend a two-year low and the haven yen rising. A gauge of the island’s currency in the forward market fell by about 0.5% during US trading hours, which if replicated would push the Taiwan dollar to around the 30.15 level, its lowest since April 2020. Traditional haven assets, the yen and Treasuries climbed with the Japanese currency touching a two-month high. China regards Taiwan as part of its territory and has promised “grave consequences” for a visit by ... (full story)