Taiwan Dollar Forwards Touch Two-Week High on ECB Bond-Buy Plan
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Taiwan dollar forwards touched the strongest level in more than two weeks on optimism European Central Bank President Mario Draghi will announce details of a bond-buying plan to tame the region’s debt crisis.
Draghi’s proposal involves unlimited purchases of government debt, two central bank officials briefed on the plan said. South Korea’s Finance Ministry said today an economic slowdown and Europe’s debt crisis are hurting consumer and business sentiment, after paring its second-quarter growth estimate to 0.3 percent from 0.4 percent.