The Taiwan dollar slipped today on speculations that policy makers will step in to rein currency’s gains as a strong currency may leave the nation in trading disadvantage.
It looks like Japan has triggered a massive decline of Asian currencies by weakening the yen. Other Asian nations are worried that it would hard to compete with one of the largest Asian economy if their currencies remain strong. Therefore traders expect central banks to keep Asian currencies from appreciating and such expectations lead to
USD/TWD rose 0.05 percent to 29.8290 as of 9:54 GMT today.
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