Taiwan Intensifies Battle to Limit Its Strengthening Currency
- Local dollar jumping most in a decade intraday before paring
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Taiwan’s authorities are having to work harder to stop the local dollar from strengthening.
While the currency closes each day little changed amid intervention by the central bank, intraday gains are widening. The currency advanced as much as 1.9% on Wednesday, its biggest increase since 2011. Foreign investors are pouring cash into Taipei’s financial markets, which has helped drive the local dollar to its highest level in 23 years.