0212 GMT [Dow Jones] The USD/TWD is down at 29.962, from 29.988 late
Tuesday in Asia, but off an earlier low at 29.920. "The U.S. dollar
has recovered against other major currencies. I guess investors
believe any QE3 is not going to be imminent, and the New Taiwan dollar
is following the regional trend," a foreign bank trader says. She adds
Taiwan's central bank cut its overnight rate again this morning--the
fifth cut in four days--which also helps the USD/TWD recover a little.
She tips the pair to remain in its current 29.900-30.000 band for the
day. (aries.poon@dowjones.com)
Contact us in Singapore. 65 64154 140; MarketTalk@dowjones.com
(END) Dow Jones Newswires
July 17, 2012 22:12 ET (02:12 GMT)
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