The USD/TWD is lower as foreign fund inflows continue, but importers' dollar demand the central bank's suspected intervention provide support around 29.200, say two local traders. The pair is at 29.399, the lowest onshore closing level since May 10 (29.395) vs 29.469 late Friday in Asia; traders say the local central bank was suspected of buying around 29.200, 29.270 and 29.280 intermittently during the session. They also say the pair recouped some of its early losses as market participants took profit on the TWD's recent gains. "The greenback may remain weak as exporters are expected to sell into strength, while foreign funds continue to flow into local equities," a trader says. They tip the pair to trade in a 29.200-29.400 band Tuesday. Taiwan shares end 0.3% higher, with foreign investors net buyers of NT$1.94 billion worth of local shares.
Find us on Google+
No comments:
Post a Comment