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Builds On Monday's Gains

TWD

Taiwan dollar is stronger on Tuesday, USD/TWD down 0.025 at 27.771 and lower for the sixth session out of the past seven. The increase yesterday was the biggest one-day gain in six weeks as the rate played catch up with a weaker USD and TWD benefitted from foreign inflows into the Taiex. Exchange data showed foreigners bought TWD 21.2bn of Taiwanese stocks, the most in four weeks. The Taiex is down over 1% today amid broad negative sentiment in the region.

  • Markets look ahead to PMI data tomorrow, the index could slip from July's 59.7 print. Industrial production slowed in July due to COVID-19 struggles and chip shortages.

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