The Taiwan dollar strengthened yesterday as signs of robust economic growth in China was helping Asian currencies, attracting investors to the region.
The latest PMI reports, both manufacturing and non-manufacturing, were quite good, suggesting that China’s growth retains momentum. It made traders more interested in Asian assets. As a result, investors were buying Taiwan bonds, leading the TAIEX index to the highest level since May on a closing basis yesterday.
USD/TWD edged down 0.05 percent to 29.3720 as of 16:24 GMT today.
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