Taiwan’s central bank appears to be taking steps to rein in the Taiwan dollar toward the end of the local trading day, as the currency tests the limits of policy makers’ comfort zone.
Since hitting its strongest intraday level against the U.S. dollar since April 2018 last Thursday, the Taiwan dollar has eased off at the end of each session to reverse earlier strength. Currency traders attributed the daily retreats to the actions of the central bank. They asked not to be identified because they are not authorized to comment publicly on foreign exchange markets.
