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China’s Growth Benefits Taiwan Dollar

October 4, 2013 at 16:27 by Vladimir Vyun

New Taiwan dollar banknotes and coinsThe 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.

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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