The USD/TWD is lower as risk-sensitive Asian currencies gain the upper hand (vs the greenback) after the victory of pro-bailout New Democracy party in Greece, say two local traders. The pair is at 29.886 vs 29.931 late Friday in Asia. The traders say the local central bank was suspected of buying around 29.850 late in the session to keep the pair in its target range. "Lingering uncertainty over the euro-zone still provided some support to the greenback, while many market participants remained cautious ahead of the U.S. FOMC meeting scheduled for Tuesday and Wednesday," one trader says. They tip the pair to trade in a 29.850-29.950 band Tuesday. Taiwan shares end 1.8% higher; foreign investors are net buyers of NT$6.46 billion worth of local shares Monday.
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