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GDP Forecast Lifted


Taiwan dollar higher at the open, USD/TWD gapped lower, last at 27.830, down 0.029.

  • Late on Friday Taiwan lifted its GDP growth forecast to 5.88% from 5.46% previously, citing an export and investment boom and looser virus restrictions. If growth were inline with estimates it would be the strongest since 2010.
  • There were reports earlier that Taiwan's FSC and finance ministry are in discussions to extend the reduction in securities transaction tax rate for day trading after current rule expires by end of 2021, there is talk of a five-year extension. The report in Economic Daily News cited unidentified officials.
  • There is no data scheduled for release today, markets look ahead to current account balance and export orders later in the week.

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