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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
TWD
USD/TWD has ground higher through the session on Friday, the move supported by some resilience in the US dollar. The move higher has spiked volatility in TWD which had fallen amid conjecture that the central bank was attempting to guide the currency. USD/TWD last at 27.981.
USD/TWD historical volatility
- There has been increased speculation that the CBRC are intervening in the FX market, despite Taiwan being on the US Treasury's currency manipulator watchlist. TWD routinely swings into the close, keeping the currency near unchanged levels on the day, only for this move to be reversed in the following trading session.
- Relentless flows into Taiwanese equity markets are propping up TWD, though there have been signs that this trend is slowing; the 5-day moving average of net foreign inflows decreased to $180.8m yesterday, falling below the 20-day average of $243.7m, but year to data flows are still some $2.79bn.
- There are $100m of 27.97 USD/TWD puts rolling off tomorrow.
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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