Foreign cash is pouring back into Taiwan after strong Nvidia results, pushing the Taiwan dollar to a two-month high — good for Taiwanese stocks and importers, awkward for exporters.

• Nvidia beat expectations, lifting Asian tech stocks and sending Taiwan's market up more than 400 points.
• Foreign investors moved money into Taiwan, driving the Taiwan dollar past 31.8 per US dollar.
• US inflation came in stickier than hoped, so the dollar strengthened and most other Asian currencies weakened — the yen slid back toward 160.
• Traders now put the odds of a Fed rate hike in September near 44%, a big shift from earlier bets.

Outlook: All eyes turn to the Jackson Hole central bank meeting, where Fed chair Warsh's comments will set the tone for rates and the dollar.