Over the weekend, currencies in emerging markets in Southeast Asia have surged, especially the Taiwanese dollar, and the market is beginning to trade on expectations of the Plaza Accord 2.0. Why is it said to be a trading square agreement rather than a US dollar interest rate cut or release? Because after Friday's non farm payroll data came out, the expectation of a CME interest rate cut also decreased, becoming the earliest July interest rate cut. Therefore, the Hong Kong Monetary Fund bought $6 billion over the weekend to stabilize the exchange rate and the Taiwan dollar appreciated by 10% against the US dollar were interpreted to a greater extent.