Goldman Sachs: The RMB is strengthening and the New Taiwan Dollar is soaring. Which currency will be the next to experience a significant change?

According to the Wise Wealth APP, the sharp rise of the New Taiwan Dollar has caused fluctuations in the Asian foreign exchange market. In early May, the USD/TWD plummeted by 7-8% for two consecutive days, creating a historical volatility record and amplifying overall exchange rate fluctuations in Asia. The Central Bank of China Taiwan stated that the appreciation was not due to pressure from the United States, but mainly driven by concentrated foreign exchange earnings from exporters. Inflows of funds into the stock market and VaR impact (risk value volatility) further strengthened the uptrend. Goldman Sachs has lowered its 12-month forecast for USD/CNY to 7.0 and believes that with the resumption of China-US trade negotiations, the Renminbi may receive more support.