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GDP Estimates Raised

TWD

TWD: Taiwan dollar is stronger in early trade, USD/TWD playing catch up with the move lower in the greenback on Friday. The pair last down 0.069 at 27.643

  • There were reports earlier that the US will donate 750k doses of COVID-19 vaccine, last week Japan announced it had sent some vaccines to Taiwan who had previously blamed China for struggling to secure its own supply of inoculations.
  • Elsewhere Taiwan raised its GDP forecast for this year to 5.46% from the previous estimate of 4.64%. The Q1 estimate was raised to 8.92% which would be the fastest pace in over 10 years on the back of surging exports amid demand for electronics/chips globally. The increase comes despite an uncertain outlook with a pick up in the number of COVID-19 cases.

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