The USD/TWD sustains early gains as risk aversion continues after dismal U.S. payrolls data Friday cast further doubts over the health of the global economy, say two local traders. The pair is at 30.050, its highest onshore closing level since Jan. 16, vs 29.930 late Friday in Asia. The traders say the central bank was suspected of buying the greenback near 30.020, while it was also suspected of selling intermittently during the session to keep the pair within its target range. "If local stocks fall more than 2% at the open Tuesday, the greenback is likely to challenge NT$30.100," one trader says. Still, exporters' selling slowed the pair's rise above 30.050, he adds. Taiwan shares ended 3.0% lower; foreign investors are net sellers of NT$2.7 billion worth of local shares.
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