Friday, March 13, 2009

USD/TWD ends essentially flat

USD/TWD ends essentially flat at 34.495 vs last close at 34.494, as weakness in early session on 3.0% gain by local stocks offset by firmer USD/SGD, suspected central bank support for USD, says local bank trader. "The central bank was actually on both sides today, so the pair will remain stable," she says; tips pair in 34.400-34.600 band Monday, adds central bank will likely want to keep TWD weaker as month-, quarter-end approach to aid exporters.

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