Globally... U.S. Dollar Declines as Taiwanese Currency Hits Multi-Month High

Al-Sabah Al-Jadeed – Agencies:The U.S. dollar recorded a new decline at the beginning of trading on Monday, affected by a sharp rise in Asian currencies, led by the Taiwanese dollar.The Taiwanese dollar continued its remarkable gains, rising by more than 3% to reach 29.618 against the U.S. dollar, following a record 4.5% jump last Friday, marking its highest level in two years.Despite the Taiwanese central bank denying any U.S. pressure to adjust the currency’s value, market reactions suggest anticipation of possible political interventions with a trade-related nature.Meanwhile, the Chinese yuan also recorded its highest level in nearly six months, at 7.1980 against the dollar, amid speculation that China may allow its currency to rise as part of calculations related to trade negotiations with the United States, despite a continued large gap between the two sides.In this context, the Chinese Ministry of Commerce indicated it is considering a U.S. offer to resume dialogue on the tariffs imposed by the Trump administration at a rate of 145%, although no clear signs of an imminent agreement have emerged.On the U.S. side, President Donald Trump renewed his criticism of Federal Reserve Chairman Jerome Powell in a televised interview aired Sunday, describing him as "rigid." However, he reaffirmed that he does not intend to dismiss him before his term ends in May 2026, while continuing to pressure for interest rate cuts.