The USD/TWD is lower, tracking the falling USD/KRW and on exporter settlements and foreign fund inflows, say two local traders. The pair is at 29.122, off its intraday low of 29.060, but still down vs 29.150 late Monday in Taipei. However, the local central bank is suspected of buying around 29.060 to keep the pair in its target range, traders say. "Buying from importers and insurers still provides the greenback with firm support," a trader says, and tips the pair to stay in a 29.050-29.100 band Wednesday. Taiwan's shares end 0.1% higher; foreign investors are net buyers of NT$8.89 billion worth of local shares -- the highest single-day net-buying in more than one week.
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