Taiwan Dollar Advances on Hopes for Stimulus

The Taiwan dollar advanced today amid hopes that central banks of developed nations will stimulate their economies, fueling global economic growth. Such hopes increased the attractiveness of Taiwan assets.
According to the exchanged data, global investors bought $126 million more local stocks than they sold today. Hopes for the stimulating measures from central banks allowed the market sentiment to overcome negativity caused by the danger of financial cliff in the United States. Yet the Taiwan dollar remains under pressure as rumors suggested that the nation’s central bank was selling the currency to counter gains.
USD/TWD fell from 29.0820 to 29.0320 as of 14:57 GMT today.

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