Almost 100 days have passed since the inauguration of the second Trump administration. The Trump administration has exceeded all expectations, and the beginning of a catastrophe has been foreseen.
His public battle with Ukrainian President Zelensky and his Russian-leaning diplomatic stance shocked the world and showed that the almighty Trump has no taboos at all.

After Mexico and Canada, US President Trump has now imposed reciprocal tariffs around the world and has China in his crosshairs. The old distinction between friend and foe, east and west, no longer applies. It is clear that high tariff policies benefit no one, but Trump and J. D. Vance, barking like pit bulls, will not shut up and listen to others.
The Taiwan dollar has surged since last Friday. It appears that trade negotiations with the Trump administration have raised the issue of currency management by the Central Bank of Taiwan, and despite the sharp rise, the Central Bank of Taiwan has not intervened in the currency market. We have no idea how far the Taiwan dollar will rise, but we expect it to reach a high of around 27.5 in 2022, or perhaps even the 25.0 level of the early 1990s.

The market will be interested in which currency will rise next, and the Korean won and Chinese yuan will come under upward pressure. The dollar is also likely to be affected.
Japan is not intervening to weaken its currency, but given the appreciation of the Taiwan dollar, the dollar-yen will probably have to fall to some extent (the yen will probably rise).