Taiwan Dollar's Steepest Drop in Three Years Is Just the Start
- Foreigners fled island’s stocks in May amid China-U.S. dispute
- Currency may slide to 32 a dollar in third quarter, MUFG says
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There’s no relief in sight for Taiwan’s currency after its worst month in more than three years.
Strategists predict foreigners will yank even more cash from the island’s stock market as the U.S-China trade war clouds the outlook for its tech heavyweights. Throw in seasonal dividend payments and a weak yuan, and the local dollar is about to face even more selling pressure.