Taiwan Dollar Strengthens for Third Day on Europe Debt Optimism
This article is for subscribers only.
Taiwan’s dollar advanced for a third day on bets the European Central bank will announce details of its new bond-buying plan, boosting optimism that policy makers will succeed in containing the region’s debt crisis.
The currency was trading 0.3 percent stronger one minute to the market-close before speculation of a central bank intervention trimmed gains, according to two traders who asked not to be identified. Official data to be released tomorrow may show Taiwan’s consumer prices rose 2.6 percent in August from a year earlier, the fastest pace since 2008, according to the median estimate of economists in a Bloomberg survey.