The USD/TWD is little-changed in thin trade, as the local central bank's suspected intervention is cancels out exporters' selling, say two local traders. The pair is at 29.125 vs 29.129 late Tuesday in Taipei; they say the central bank was suspected of buying around 29.020 in the morning and 29.030 late in the session to stem TWD's strength. Many traders still refrain from trading actively after the central bank Tuesday for the first time asked onshore traders to report their USD sell orders before executing the transactions, they add. But a trader says if the USD/CNY keeps falling, the USD/TWD is still likely to drop below 29.000; the other trader notes falling offshore NDFs may also weigh on the pair in the near term. They tip the pair to trade in a 29.000-29.100 band Thursday. Taiwan shares end 0.3% higher, but foreign investors are net sellers of NT$1.73 billion worth of local shares.
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