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The New Taiwan Dollar has surged to a three-year high, as market tensions ease following the ceasefire between Iran and Israel and as the U.S. dollar weakens. The central bank said it would allow the currency to move with market forces, but would intervene if necessary.
Transcript
00:00The new Taiwan dollar surged to a three-year high on Thursday.
00:04The Taiwan dollar has been rallying through June, rising almost 3 percent to 29.391 against the U.S. dollar.
00:12Taiwan's central bank says the spike was driven partly by easing market tensions following the ceasefire between Israel and Iran.
00:19A weakening U.S. dollar and Taiwan's strong trade performance also added to the rise.
00:23The bank says it will let a currency move with the market forces but would intervene if necessary.

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