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Fitch Upgrades Taiwan to 'AA'; Outlook Stable

TWD

USD/TWD makes fresh session lows after Fitch upgrade Taiwan one notch to AA keeping the stable outlook. Fitch cites economic outperformance versus peers, strong external demand and fiscal prudence as rationale. Fitch forecasts Taiwan's economy will expand by 6.0% in 2021, above the AA median of 4.6% and above the Taiwanese governments forecast of 5.46%. In the report Fitch do note risks from a slow vaccine rollout. USD/TWD last down 0.066 ay 27.656, the pair hit lows of 27.569 earlier this week.

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