Taiwan Dollar Falls Rapidly Again, Reinforcing Intervention Talk

The Taiwan dollar slumped in a sudden move in late trading, following a pattern seen on Friday and fueling speculation the central bank intervened once more to curb strength in the currency.

The local dollar slid more than 2% against the greenback to 29.9 and posted its biggest single-session drop since 2001, according to data compiled by Bloomberg. The trading pattern — a rapid slump toward the end of a session — resembled a move seen last week that stoked bets the central bank may have sold the local dollar after it jumped to a three-year high.