Taiwan Dollar Forwards Drop Most in 2 Weeks on Intervention Risk
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Taiwan dollar forwards dropped the most in more than two weeks on speculation policy makers will curb currency gains to support exporters.
The central bank should monitor Asian currencies and take measures if necessary to stabilize domestic prices and ensure trade competitiveness, according to a statement on the Cabinet’s website today. Premier Sean Chen asked the monetary authority to closely monitor the effects of the Bank of Japan’s monetary easing aimed at weakening the yen, the Cabinet said yesterday. Taiwan and South Korea compete with Japan in the world market for electronic products.