A Taiwan-dollar derivative that’s popular with the island’s largest life insurers is pointing to further gains for the currency, even after a surge of as much as 5% Monday to a three-year high.The spread between the spot rate and one-year non-deliverable forwards on the Taiwan dollar-US dollar currency pair swelled to around 3,

The Taiwan dollar jumped 8% against the U.S. dollar in two days, an unprecedented surge and another sign that investor demand for the U.S. dollar is weakening amid trade turmoil.

Down Under, the Australian dollar hardly reacted to Saturday's election which saw the Labour party's Anthony Albanese claim a historic second term as prime minister. The Aussie was steady at $0.6441 having hit a five month high on Friday as a solid U.S. jobs report boosted risk appetite globally