The USD/TWD is higher as oil importers buy the greenback to settle their bills, while fund outflows weigh on the local currency, say two local traders. The pair is at 29.890 vs 29.866 late Wednesday in Asia, after trading in a narrow 29.855-29.865 band. The traders say Taiwan central bank was suspected of buying around 29.860 in late Asian trade to keep the pair within its target range. "But exporters' selling capped the greenback's rise above NT$29.860," one of the traders says, tipping the pair to trade in a 29.830-29.900 band Friday. Still, trading volume is thin as players tread carefully ahead of the ECB's rate decision later in the global day. Taiwan shares end 0.5% lower; foreign investors are net sellers of NT$3.9 billion worth of local shares.
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