The USD/TWD nudges lower, following broad weakness in the greenback Thursday as overall risk appetite is lifted a little by China's improving manufacturing data, says a foreign bank trader. The pair is now at 29.135, down from 29.185 late Thursday in Asia. She says trading has been very light this morning, with inflows subdued; U.S. markets were closed Thursday for a holiday and Japan is closed Friday for a holiday, which will likely keep the USD/TWD in a tight 29.08-29.15 range. Another trader says Taiwan's revised 3Q GDP and October industrial output data due later in the day are likely to confirm the export-reliant economy is still struggling with a benign export market, which may hinder the local currency from rising significantly in the medium term.
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