US dollar dips to close at NT$29.669

The strength of the euro, which rose to a four-month high against the U.S. dollar, reflected high hopes that the U.S. Federal Reserve will come up with further stimulus measures to boost the economy, they said.

The expectations of the U.S. Fed stimulus plans prompted traders to move their funds out of the greenback as a safe haven to other currencies, including the euro and units in the Asia region, the dealers said.

However, the losses suffered by the U.S. dollar against the New Taiwan dollar were offset to some extent by the local central bank's efforts to slow the pace of the local currency's appreciation in a bid to make Taiwan's goods cheaper in the global market, they said.

The greenback opened at the day's high of NT$29.720 and moved to an early low of NT$29.580 before rebounding. Turnover totaled US$816 million during the trading session.

SHARE CLOSE
Blogger		Google+
Live Journal		Plurk
Stumble Upon

Tweet

	PREVIOUS ARTICLE
	National security a hurdle in opening telecom sector to China

NEXT ARTICLE
Taiwan PC shipments decline in Q2

Write a Comment

Terms

Enter your comments - 3000 characters max

Type in image code

 Receive China Post promos
 Respond to this email

Submit