The USD/TWD is lower at 29.715 vs 29.740 in late Asian trade Monday, tracking the greenback's broad weakness against the EUR and most regional currencies, say two local traders. They say the local central bank was suspected of buying the U.S. dollar around 29.68 to stem the local currency's strength. "We have seen foreign capital flowing into local assets amid growing expectations the Fed will act to stimulate the U.S. economy ahead of the presidential election later this year," says one trader. He tips the pair to trade in a 29.67-29.77 band Wednesday.
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