Srinagar, May 5 -- SYDNEY, May 5 - The U.S. dollar slipped further on Monday, pressured by a dramatic rally in the Taiwan dollar that sparked talk of currency revaluations across Asia, potentially aimed at gaining leverage in trade negotiations with Washington.

The Taiwan dollar surged over 3% to 29.618 per U.S. dollar, extending Friday's record 4.5% jump and reaching its highest level in two years. Although Taiwan's central bank denied any external influence from the White House, market sentiment hinted at coordinated currency moves among Asian economies.

Meanwhile, China's yuan touched a near six-month high of 7.1980 per dollar, amid growing speculation that Beijing might allow a stronger yuan as a gesture in ongoing trade tensions wi...