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How Taiwan's Currency Became World's Dullest

  • Suspected central bank intervention is limiting gains
  • Even the Singapore dollar is more interesting than Taiwan’s
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For a currency that surged the most in almost a decade in the first quarter of the year, the Taiwan dollar sure has turned boring.

Price swings in the exchange rate over the past month are the smallest among the 16 major currencies tracked globally by Bloomberg, with even the Singapore dollar being livelier. The Taiwanese currency has traded between 30.7 and 29.9 per greenback since the end of March, just a third of the size of its first-quarter trading range.