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Taiwan Dollar Falls Yen in Decline

April 22, 2013 at 9:55 by Vladimir Vyun

New Taiwan dollar banknotes and coinsThe Taiwan dollar slipped today on speculations that policy makers will step in to rein currency’s gains as a strong currency may leave the nation in trading disadvantage.

It looks like Japan has triggered a massive decline of Asian currencies by weakening the yen. Other Asian nations are worried that it would hard to compete with one of the largest Asian economy if their currencies remain strong. Therefore traders expect central banks to keep Asian currencies from appreciating and such expectations lead to sell-off of Asian assets, including the Taiwan dollar.

USD/TWD rose 0.05 percent to 29.8290 as of 9:54 GMT today.

If you have any questions, comments, or opinions regarding the Taiwan Dollar, feel free to post them using the commentary form below.

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