The USD/TWD is little changed in thin volume, with most market participants standing on the sidelines before the outcome of the FOMC meeting later this week, says a local trader. The pair is at 29.090, little changed from the 29.080 level it was at Monday before suspected intervention by the local central bank lifted it to 29.150 at the close of the onshore trading session, traders say. "The greenback is likely to remain rangebound as the local stock market (the Taiex is 0.4% lower) has failed to provide any direction thus far," a trader says. He adds, any rise in the pair will likely be capped by exporter selling near 29.100. He tips the pair to stay in a narrow 29.050-29.100 band for the session. (fanny.liu@dowjones.com)
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