The USD/TWD is at 29.090 late Wednesday vs 29.136 late Friday in Taipei, its lowest in more than seven weeks, after Asian markets surge on the U.S. fiscal cliff deal, says a local trader. The pair fell to 28.998 mid-session, its lowest since Nov. 13, and the local central bank was spotted buying the greenback at around 29.000 throughout the day to curb the local currency's appreciation. "The pair will likely be pushed below 29.000 again, although we expect the central bank will defend the line and intervene," the trader says, and tips the pair to trade in a 28.950-29.050 band Thursday. The Taiex advanced 1.0% to 7779.22, with foreign investors net buyers of NT$6.49 billion in local shares.
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