Taiwan Dollar Surges More Than 2% as Traders Test Central Bank

The Taiwan dollar surged more than 2% in another day of volatility for the currency, as exporters’ sales of the greenback tested the central bank’s tolerance for local currency strength.

The currency jumped as much as 2.5% to 29.16 per US dollar Tuesday in the biggest one-day gain since early May, after sliding over 2% on Monday. The latest move pushed the local currency’s gain this year to 12%, making it the best performer in Asia.