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Hovers Around 28.00 Handle

TWD

Taiwan dollar is stronger, USD/TWD is down 0.009 at 27.990, oscillating around the 28.00 handle after breaching the level yesterday as the soft lockdown in Taiwan was extended. If the rate did close lower today it would be the first time TWD strengthened since June 11

  • There were reports earlier that the US and Taiwan would resume trade talks by June 30, discussions over the Trade and Investment Framework Agreement took place earlier in June and US trade representative emphasized the importance of the US's trade and investment relationship with Taiwan. Taiwan has already eased limits on imports of US meats, removing one of the main sources of trade friction.
  • Data late yesterday showed industrial production rose 16.51% in May, above estimates of a 13.05% rise and after a revised 14.1% in April. There are no tier 1 domestic releases on the economic docket today, money supply data will be released later in the session.
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