The USD/TWD rises slightly, lifted by suspected intervention by the central bank at around 29.020 and buying by foreign investors, say two local traders. "The central bank apparently turned more aggressive in defending NT$29.000 because it stepped in soon after the market opened," one says. The pair is last at 29.038, off 29.024 earlier, still slightly higher than the 29.020 level it was at before the central bank's suspected intervention Tuesday, which lifted the pair to 29.129 at the close of the onshore trading session. The traders note that trading remains sluggish after the central bank Tuesday for the first time asked onshore traders to report their USD sell orders before executing the transactions. They tip the pair to trade in a 29.000-29.100 band for the session.
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