The USD/TWD falls to an over 4-month low as risk appetite returns after the Fed announced an open-ended bond purchase program and plans to extend low interest rates to 2015, says a local trader. The pair hits 29.485, the lowest level since May 11, vs 29.699 late Thursday in Taipei. "We saw heavy selling from foreign investors and exporters...the U.S. dollar may continue to fall," a trader says, and tips the pair to trade in a 29.430-29.520 band for the session. He adds, buying from some state banks so far isn't offering much support, but the local central bank is still likely to step in to stem the local currency's strength late in the session. The Taiex is up 1.2%.
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