Fall Arrested As Equity Inflows Resume

Taiwan dollar is stronger for a second session, arresting a two-week decline. USD/TWD last down 0.021 at 28.521. The rate is seeing some support at 28.50, after also failing to breach the level yesterday.

• It was reported by Reuters that Taiwan's central bank allowed Cargill to repatriate approximately $2bn that had been frozen as part of an investigation into currency manipulation. The central bank and Cargill have been negotiating for eight months to get permission to repatriate the funds.
• Health minister Chen said late yesterday that the government sees a smaller chance of completing agreement with Germany's BioNTech SE for five million vaccine doses, but noted the government will continue talks with the firm.
• Exchange data showed foreign funds bought a net $305m of Taiwanese equities, the second day of buying after five straight days of selling.