The Taiwan dollar extended its winning streak on Tuesday, a day after it closed at the strongest level since 2011 amid speculation the local central bank will continue to loosen its grip on the rallying currency.
The advance builds on September’s 1.4% gain, one of the largest for major currencies versus the U.S. dollar. While for months Taiwan’s central bank stepped in daily to limit appreciation, its relatively hands-off approach recently is a sign that officials may allow further strengthening. The gains also come amid signs of solid economic growth, with data from exports to manufacturing showing expansion in August.
