NT dollar up NT$0.016 on capital inflow

Though opening lower, the local currency rebounded on rising demand as international investors remitted cash into the island for buying Taiwan shares. The local currency was also pulled up by the rising Japanese yen.

The Japanese yen became stronger these days on the good news that Japan is the first stop for U.S. President Bush’s Asian trip.

Market observers generally believed that foreign fund and Japanese yen should remain the two key factors to influence the movement of the local currency in the near future.

As the Japanese yen is expected to become stabilized in the following three months and the capital inflow would sustain on optimistic stock market prospect, there is limited chance for sharp falling of the local currency in the near future.

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